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China has become the world’s largest gold producer |
Throughout the recession gold has been a solid buffer against global financial uncertainty. Spot prices have jumped every year since 2003, rising to $833.70 an ounce by the beginning of 2008 and $1,079.32 by January 1 2010. Global prices continued climbing into the new year, standing at just under $1,130 at midday trading on January 7, defying bears who predicted a crash in early December 2009 when gold hit a record high of $1,215.70.
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