Gold hits $1000 an ounce

Roland Kitson, Director, Close Investments, comments on gold hitting $1000 an ounce: “The price of all commodities has been rising in recent months and this latest peak in the price of gold has been driven by its reputation as a safe haven against the weak dollar and fears about the US economy going into recession.The Close Enhanced Commodities Fund is partly invested in gold and investors who bought the fund at launch are now looking at a handsome return. Commodities overall have been an excellent investment opportunity, although the question on investor’s minds now must be ‘is now the time to invest in gold?’ Our view is that although gold has reached this all time high, commodities in general still have a long way to go in terms of growth and will remain a top performer and diversifier for investor’s portfolios.”