Tuesday, January 22, 2008

Gold Price Moving ?

Gold was knocked down to its lowest level in almost three weeks in early London trading today. Brought about in part by plunging global stock markets that forced funds to liquidate profitable commodity positions to cover margin calls.

While gold remains down on the day, buffeted by wider market winds in the short-term, many bullion watchers believe the precious metal should find strong buying interest if the equity market turmoil continues. Gold's historical role as a secure store of wealth has seen it boosted by over 200 usd since the credit crunch first took hold in the summer.

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