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Tuesday 30 September 2014

... but price of gold crashes

Published 09/01/2014 | 02:30

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THE price of gold has crashed, leaving thousands of buyers here nursing heavy losses.

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Large numbers of Irish investors bought gold over the past four years, seeing it as a safe haven during euro turmoil and fears inflation would soar.

But instead, falling prices have become an issue for the countries that share the euro currency, while the euro is seen as having emerged from the crisis that threatened its survival.

The price of an ounce of gold has now fallen to $1,241 -- a drop of close to 40pc since the price peaked in September 2011.

Irish Independent

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