Gold Hits Sterling Record

April saw the price of gold hit a Sterling and Euro record. While the GBP754 (or 865 Euros) per troy ounce stat still remains 5% below the all time US dollar record, this was nonetheless excellent news for the British investors.

Compare the GBP754/ounce price tag with the price of GBP562 per ounce, as gold stood back in August 2009 and it means that holders of the previous metal have seen the value of their gold soar 34% in value in less than a year.

It's widely thought that the fact that gold is maintaining such a high price per ounce, despite the fact that the US dollar is making a notable recovery, indicates a growing number of people viewing gold as a 'safe investment,' in light of inconsistent currencies and the still prevalent economic uncertainty globally.

Gold is also proving a popular investment for those who, in times of US dollar instability, might have invested in Euros, Pounds Sterling or even Yen. As these currencies also continue to perform inconsistently, following the recent global recession, investors are increasingly turning to gold bullion, which has proven a more sound investment in recent years.