Gold continues its ascent to top of investment pile

Wednesday, 10 August 2011 04:18

Gold has continued to increase in value after breaking price records just three weeks ago by surpassing the £1,000 per ounce barrier.

The commodity is now worth £1,051 an ounce, and its resistant value makes it a safe investment for anyone concerned about the ongoing turmoil in the global financial markets.

In the past decade, the price of gold has increased by more than 500 per cent, but the future value of the commodity remains difficult to predict.

However, according to Adrian Lowcock, senior investments adviser at Bestinvest, gold is a safe bet.

"[The precious metal] offers a far more comfortable ride for investors seeking to protect their portfolios from global economic events," he claimed.

The investment expert added: "For the time being it looks as if little will derail gold's fortunes."

Use the Myfinances.co.uk comparison tables to find the best deal on buying and selling gold

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