Wednesday, October 1, 2008

Wealthy investors hoard bullion

The Financial Times reports on wealthy investors hoarding gold directly — the equivalent of stashing the cash under the mattress.
Industry executives and bankers at the London Bullion Market Association annual meeting said the extent of the move into physical gold was unseen and driven by the very rich.
So much for the "optimism" of Tuesday's 500-plus boost on Wall Street.

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