Price of gold up 14 per cent to nearly $1,800 an ounce

Oct 5, 2012

Investors purchased 85.4 metric tonnes of gold in September, the most since July last year

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Gold is on the way up again as investors' bullion holdings expanded to a record last month. According to Bloomberg, investors purchased 85.4 metric tonnes last month, the most since July 2011. The metal is up 14 per cent to $1,787.25 an ounce this year, and it's heading for its 12th consecutive annual gain. "More and more people are going to anticipate inflation in the future because of quantitative easing and the amount of debt we've got in the system," said Frederique Dubrion of Blue Star Advisors SA. "We can print whatever amount of money we need, but you can't print gold. It's nobody's liability, it's a hard currency."

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