Of return to the origins of the economy: crazy people by the gold currencies
4/08/2009 Publilcado by the Economista.es
The Real House of Currency of the United Kingdom, established in century XIII, duplicated its production of gold currencies in the second trimester by the increase in the demand like option to diversify the investments at the present moments of crisis.
The production before raised 16,910 ounces from 8,030 ounces a year. The production of the first semester raised a 86% 45,406 ounces, according to the data.
The demand of physical gold as bastion of value and cover against the inflation has increased while the governments spend trillions of dollars in fighting the worse recession from World War II. The investments in the metal through products that quote in stock market endorsed by gold raised levels record in the second trimester. The gold quotes a 7% lower than the record of 1,032, 70 dollars the ounce that reached in March of 2008.
Methods of investment
“It continues being interest in gold like refuge”, declares Stephen Briggs, Global analyst of RBS Banking and Markets in London. “All this sector will attract people who do not have access to the market of futures”, she indicates.
The individual investors normally buy currencies of gold, ingots or action in products that quote in stock market. Participation in SPDR Gold Trust, the greater bottom than quotes in stock market endorsed by the precious metal, ascended to 1,120, 55 tons 30 of June, a 74% more than a year before. The investment at heart, that touched a record of 1,134, 03 tons the one of June, varied little with respect to the first trimester.
“At the beginning of year, with the crisis, there was much uncertainty”, it indicates Briggs. “The things no longer are so bad, is no as much urgency, but it continues being the sensation of which there is inflation and uncertainty around the corner”, it adds.
The recession could be arriving at its aim, according to indicated to the president of the Federal Reserve of the United States Alan Greenspan the 2 of August in an interview in the program This Week de ABC.
The demand of official currencies raised in the first trimester more of the double with respect to 2008, according to the most recent data of the World-wide Council of Gold.
In January Rand Refinery, the greater gold refinery, it increased to the production of currencies to the maximum level in about 23 years, whereas the Austrian house of currency, Muenze Oesterreich, sold a record of 1.5 million ounces of gold in 2008. The production of currencies reached a maximum level in 21 years the year last, according to the company of investigation GFMS.