Gold Clinging On To Its Traditional Role

November 23, 2007 | By | Reply More

Gold regained the $800 an ounce level by close of trading on Wednesday before the Thanksgiving holiday.

Trade was thin with oil closing in on $100 a barrel, a weak dollar and equity markets being responsible. As many traders are expecting a global economic slowdown, gold retains its traditional role as a safe haven in troubled times.

This news item caught our eye. It appears that rumors of a gold “strike” have sent Malayan villagers scouring a beach in Johor state for the yellow metal. Let us all wish them luck.

Scientists in Italy have developed a cell with two compartments filled with water separated by an electrode made of platinum and titanium dioxide that acts as a catalyst.

When exposed to sunlight hydrogen and oxygen are created. This process can be a low cost and environmentally friendly addition to non-carbon based energy resources.

A report from Johnson Matthey PLC a leading London metals specialist, believes that the price of palladium will rise within six months led by increasing demand from Asia for use in catalytic converters in the auto industry.

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Category: Precious Metal Investment News

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