Gold prices rose to a two-month high to more than $925 per ounce, up more than 20 percent since Lehman Brothers’ collapse, according to the Financial Times. Investors’ interest in gold is so strong, it’s causing shortages around the world.
“There is a lot of scepticism, or even distrust, about the financial system and people are running into gold,” said Jonathan Potts, managing director at FideliTrade. “The US Mint is doubling its gold coins production but there is demand for triple.”
The paper says part of gold’s appeal is that investors can take physical possession of it, as well as its perceived safe-haven status.