MIDAS SHARE TIPS: Gold quintuples in ten years and it’s still rising

MIDAS SHARE TIPS: Gold quintuples in ten years and it’s still rising
News from This is Money:

By Joanne Hart, Financial Mail On Sunday

|

A decade ago this week, the price of gold was $ 317 an ounce. Since then it has soared to $ 1,734, outperforming almost every other type of financial investment.

Many followers of the precious metal believe that, even though the price has quintupled in a decade, it will continue to rise over the medium term, presenting a real opportunity for investors.

So far this year, for example, central banks have spent billions of pounds buying about 400 tons of gold. Last month alone, Brazil bought 17.2 tons, taking its total stock to 52.5 tons.

Affordable: The sovereign contains just less than a quarter of a troy ounce of gold and costs about £250

Individual investors may have rather less ready cash but they can still follow the banks’ lead and buy gold as a safe and solid asset in these times of poli…………… continues on This is Money

… Read the full article
.