Spot gold rose 0.5% to $1, 375.16 an ounce on Thursday is response to the news, after the Nikkei stock average sank 7.3% in its worst one-day loss since March 2011.
(PRWEB UK) 24 May 2013
Gold made gains on Thursday, as Chinese factory activity jolted stock markets in Asia, sending investors back to the precious metal - reports Reuters.
Spot gold rose 0.5% to $1, 375.16 an ounce on Thursday is response to the news, after the Nikkei stock average sank 7.3% in its worst one-day loss since March 2011 after a preliminary survey showed China’s factory activity contracting.
A spokesperson from Physical Gold said:
“The gains in gold provide welcome support for gold investment as it attempts to make further gains after a difficult week. With global economic situations still far from secure, gold provides balanced protection to a portfolio where stock markets can be quite unpredictable. With possible further monetary easing, it provides a hedge against inflation.”
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.