Dreams of sitting on a gold mine

The price of gold has surged recently as nervous investors scramble for a safe haven but only time will tell if we are about to witness yet another bubble similar to that in property or tech stocks, writes Kyran Fitzgerald

THE value of gold has soared as savers search for safe havens in an increasingly uncertain world. On Tuesday, gold hit $1,800 per ounce, rising $150 in just one week. In late July, the price reached $1,600 confounding the predictions of many experts.

The surge has spread to silver which enjoys a relationship with gold not dissimilar to that between oil and gas.