Gold is decade’s best performing investment
Gold has proved to be the best value investment over the last 10 years, new research has disclosed.
The price of the precious metal rose 277 per cent during the past decade, with investors particularly attracted to gold during the recession as they sought a safe haven for their money.
Overall, gold, silver and platinum increased in value by 242 per cent between December 1999 and December 2009, the equivalent of an average annual return of 13.1 per cent.
It means precious metals outpaced inflation which has increased by 30 per cent during the decade or by an average 2.7 per cent a year.
Gold saw the biggest rise over the decade at 277 per cent, followed by platinum at 230 per cent and silver at 227 per cent.
Suren Thiru, an economist at Halifax, said: « Precious metals were the top performing asset during the noughties, largely reflecting increased demand from China and India for industrial uses and jewellery. »