As forecast, the gold price smashed through its previous record high of $1032/oz to trade at $1043/oz. We believe it should continue to perform well against most assets into the final quarter of 2009.
Moreover, the price of gold is still just over half of its prior peak in 'real' terms, even after the rally of the past eight years - the nominal peak price in 1980 at $850/oz adjusted to account for inflation equates to an equivalent price today of $1,884/oz. (more)
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