Bullion Markets 2009
Date : 12/01/2009
Category : Financial Sector
London is by far the largest global centre for over-the-counter (OTC) trading of gold and silver according to IFSL's Bullion Markets report. Gold and silver trading has posted record activity since the start of the credit crisis. The traditional “safe-haven” appeal of precious metals has attracted many investors to this asset class. Gold turnover increased 58% in 2008 to a record $20.2 trillion. Silver trading increased 39% during the year to a record $2.6 trillion (see table below). The growth in turnover was partly due to an increase in prices of precious metals during the year with gold posting an all time high in March of $1,011 per ounce.