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Gold price rose by 277 percent in 10 years

Published on March 10, 2010 05:50:00 IST

Gold Bullion has been the best-performing investment in the ten years since 2000, it has been revealed.

Research from Halifax indicates that there was a 277 percent rise in the price of the commodity during the decade, making it a hugely valuable investment to buyers.

Its vast increase was, in part, due to its attractiveness as a safe haven.

Suren Thiru, an economist at Halifax, said that an upturn in demand from the east was also a big factor.

Thiru said: "Precious metals were the top performing asset during the noughties, largely reflecting increased demand from China and India for industrial uses and jewelry."

Meanwhile, Marc Faber, the reputed commodities analyst, said that Gold Investment should be something all people should consider, such is the financier's faith in the precious metal.

He told CNBC: "I think everybody should accumulate some gold over time. I would recommend people to buy some gold every month, forever."

Source: http://www.commodityonline.com/futures-trading/technical/Gold-price-rose-by-277-percent-in-10-years-14863.html