The aggressive tendencies of the sovereign debt scourge have especially fed the voracious appetite of gold investors since this past August, a Bloomberg poll indicated.
Administered late last month, the gold poll found investors since then have most heavily purchased the metal since 2004. The survey boasts an accuracy rate of 58 percent, or 223 of 387 weeks. Twenty-one of 22 polled project gold to rise in value next week, which would mark a third consecutive week of gains.
Gold is "an important thing to own when there is this sort of volatility in stock markets and concern about currency devaluations," executive director Mark O'Byrne with brokerage GoldCore told Bloomberg.
Since January, gold futures have gained about 24 percent in value, driving toward an 11th consecutive year of gains. Gold lags behind only gas oil and heating oil as a top performer of the 24 commodities monitored by a Standard & Poor's index.
Newly sworn in Greek Prime Minister Lucas Papademos has assembled a unity government that immediately faces the challenge of working out the second tranche of emergency aid in 17 months, The Guardian reports. The sovereign debt crisis also played a role in forcing out Italy's prime minister.
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