2010 is a shining year for gold

It has been a good year for anyone who invested in gold. The precious metal has hit several all-time highs in 2010. The latest one was earlier this month when the price reached 1,082 euros an ounce.

Traditionally seen as a safe and conservative investment, gold’s popularity has increased as the currency markets and banking sector took a battering.

Next year looks good for gold too, according to Bob Parker at Credit Suisse: “Our view is that gold will trade in 2011 between $1,400 where we’re very close to now, and as high as $1,500. I think one message there, is that the gold price goes up, but that the pace of appreciation will be less than it has been in the past two years.”

Though gold has fallen from its peak earlier in December, a weakening dollar has seen gold rise for the third day in a row. Spot gold gained more than half a per cent and US gold futures were up by 0.7 per cent.

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