Gold jumps amid economic turmoil

The price of gold stood at $US863 dollars an ounce late in London yesterday, compared with $US813 just 24 hours earlier.The yellow metal,. Fashion accessories are decorative items that supplement one's garment, such as fashion jewellery,gold jewellery,women's jewellery.You can wholesale jewellery. which is used in jewellery,. Fashion accessories are decorative items that supplement one's garment, such as fashion jewellery,jewellery for sale here,we aupply womens accessories,jewellery rings,gold jewellery,women's jewellery.You can wholesal dentistry and electronics, remains below its record high of $US1032.70 an ounce, reached on March 17, four days after it had breached $US1000 for the first time.Gold was also in the headlines earlier this year after the precious metals consultancy GFMS revealed that China had been the world's biggest producer of gold in 2007,. Fashion accessories are decorative items that supplement one's garment, such as fashion jewellery,jewellery rings,gold jewellery,women's jewellery.You can wholesale jewellery. overtaking South Africa which had held top spot for 100 years.
On Wednesday, GFMS forecast that gold could soon reach $US950 an ounce but was unlikely to hit a new historic peak in 2008.. Fashion accessories are decorative items that supplement one's garment, such as fashion jewellery,women's jewellery.You can wholesale jewellery."I'd be far from surprised if we see a further bank failure or two in the next few months. Add that to an unwinding of dollar gains and you should see gold back over $US900 and maybe $US950 ,'' GFMS executive chairman Philip Klapwijk said in the group's latest Gold Survey.
Since striking the all-time high, gold prices have slid below $US800 as demand for the metal wanes owing to a slowdown in global economic growth.
But prices are surging once more, helped too because gold is regarded by investors as a sound defence against inflation, which in many countries is driven by soaring oil prices.
Oil briefly rose back above $US100 a barrel yesterday as central banks moved to boost liquidity on financial markets and as the dollar faltered.
A weaker US currency can make dollar-denominated gold cheaper for buyers of the metal holding foreign currencies, in turn pushing up demand for the metal.
"We expect that factors such as financial market concerns, global growth, dollar expectations and inflationary pressures are likely to continue to dictate investor sentiment towards gold and in turn drive prices,'' analysts at Barclays Capital wrote in a research note to clients.
Gold prices soared to record highs earlier this year partly owing to supply problems in South Africa. Stoppages by miners protesting unsafe working conditions and ongoing power cuts in South Africa have hampered supplies.