Last Updated :
17 February 2009 at 22:35 IST
Economic meltdown fuels gold fever
Commodity Online
MUMBAI: Now, you may witness gold fever in the bullion market. Reason for this is fear among investors.
According to a newspaper report, gold markets continue to rise during the global economic downturn and could spur symptoms of gold fever, a newspaper has suggested.
According to an article in the Las Vegas Review-Journal, investors are seeking a safe place to put their money, as equities could continue to fall in the US.
John Dobra, an economics professor at the University of Nevada, Reno, told the publication: “If you’re asking why gold prices are going up while other things are falling, my standard answer is ‘fear’.”
He pointed out that the bailout of US banks could push up inflation, potentially rewarding gold investors and benefiting the Nevada mining industry.
The article noted that the prices of six leading gold mining companies have risen by at least 44 per cent between November 2008 and now.
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