Gold Rises to Record £950.81 British Pounds an Ounce

By: GoldCore

Gold is trading at $1,540.44/oz, €1,065.02/oz and £944.82/oz.

Gold has risen to new record nominal highs in British pounds and is consolidating just below recent record nominal highs in U.S. dollars, euros and other currencies. The ECB’s rate decision and Trichet’s ‘signals’ saw the euro fall sharply against the dollar and against gold with gold in euro terms quickly rising from €1,050/oz to over €1,065/oz.

Cross Currency Rates

The fact that these new record highs are just nominal and not more important adjusted for inflation highs is a crucial fact not acknowledged by many commentators and analysts. As ever, it is important to realize that the inflation adjusted high for gold in 1980 is over $2,400/oz.

SILVER
Silver is trading at $37.35/oz, €25.82/oz and £22.91/oz.

PLATINUM GROUP METALS
Platinum is trading at $1,830/oz, palladium at $809/oz and rhodium at $2,000/oz.

GOLDNOMICS - CASH OR GOLD BULLION?

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This update can be found on the GoldCore blog here.

Yours sincerely,
Mark O'Byrne
Exective Director

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

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