WGC: Gold Outperforms Stocks and Commods in Q4
Source: Reuters (1/20/09)
"Of the 17 commodities that the WGC regularly monitored, gold was the only one to increase in price last year."
Investment demand for bullion remained strong in the fourth quarter, with 96 tonnes of gold bought in terms of gold-backed exchange-traded funds, compared with a record 145 tonnes in the third quarter, industry-sponsored World Gold Council (WGC) said in its quarterly investment report.
"Gold's performance is especially impressive considering the massive wealth destruction that took place elsewhere in financial markets. Global equities and many commodities, for example, lost approximately half their value over the course of last year," Natalie Dempster, WGC's head of investment, North America, said in the report.
Of the 17 commodities that the WGC regularly monitored, gold was the only one to increase in price last year. The sharpest decline was posted in crude oil, which fell by 64%. Industrial metals, including lead, nickel and copper, each fell by more than 50%.
WGC said investors continued to buy gold amid uncertainties in the financial markets.