Physical Gold Responds to Gold Making Gains as it Continues to Await US Fiscal Cliff Outcome

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Leading UK Gold dealers, Physical Gold, have responded to gold prices rising once again despite many investors awaiting the outcome of US fiscal crisis.

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Gold investment acts as a safe hedge against inflation and is considered a safe asset during times of economic downturn.

Gold climbed above $1,700 an ounce once again on Wednesday as a short term dip in prices encouraged buyers to the market.

Spot gold rose by 0.3% to $1,701.94 an ounce by lunchtime, partly influenced by an announcement from South Korea stating that they had invested in fourteen tonnes of gold in November to spread portfolio risks.

Gold prices have reached a plateau of late, as many investors await the outcome of US fiscal cliff talks to avert $600 billion in tax hikes and spending cuts in the New Year. If no agreement is met, the US economy could go into reverse, which is likely to increase the value of gold.

A spokesperson from Physical Gold said:

“Gold has become a popular form of investment this year as monetary easing measures from central banks have pushed investment interest in the precious metal. Gold investment acts as a safe hedge against inflation and is considered a safe asset during times of economic downturn which has aided its’ current popularity.”

Physical Gold is continuing to watch these developments with interest.

Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.

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Dan Fisher
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