Gold has finally broken the $1000 per ounce barrier again during February 2009. Briefly Gold rose to just over $1000 an ounce on 20th February 2009 causing a sudden rush by investors into the yellow precious metal. Earlier last year Gold managed to breach the illusive $1000 an ounce barrier during March but hastily retreated from the $1000 point right down to around $710 an ounce during November of 2008. This could indicate a bullish period for Gold is imminent and some say the popular investment metal may rise to $1500 or $2000 an ounce over the coming year. But on the other hand there are those that fear the $1000 point is a barrier that the Gold price will find very hard to rise above and that this could be the pinnacle for the Gold price for now. Whatever your point of view the mystical Gold $1000 point has now been breached again for the second time during 2008 - 2009 and this is sure to stir up some serious investment activity in the precious metals markets for the coming 2009 period.
With the stock market globally decreasing by around half its value over the last year is it any wonder that investors are rushing into the Gold market. The global recession that has hit the world during late 2008 and early 2009 has eroded interest rates to one percent and even lower banking institution interest base rates may be on the cards. The financial investment vehicles that have made money over the last few years such as currency trading and stock market investment all now seem to be bad investments. Private individuals as well as investment companies all now see Gold as a safe haven for funds that more recently would have been invested in stocks, shares and currencies. The feeling is that paper currency is no longer a safe place to keep your wealth and purchasing physical Gold is a safe hedge against the current economic crisis.