ID :
206962
Wed, 09/14/2011 - 06:18
Auther :
Shortlink :
https://oananews.org//node/206962
The shortlink copeid
Gold best performer since Lehman's collapse in 2008
SEOUL (Yonhap) - Gold has been the best-performing asset in South Korea since the collapse of Lehman Brothers in 2008, as investors sought to protect wealth from economic turbulence and sovereign debt risks, data showed Wednesday.
Gold has outperformed other assets in terms of returns to investors in the past three years with a jaw-dropping return of 137.5 percent, followed by stocks with a return of 32.1 percent and bonds with a yield of 20.1 percent, according to data compiled by Yonhap News Agency.
The yellow metal fetched 100,764 won (US$92) per don in South Korea on Sept. 16, 2008, a day after Lehman filed for bankruptcy, but its price continued to soar, reaching 254,284 won per don on Sept. 7, data showed. The retail gold price set a fresh record high, surpassing the 257,000 won mark in August this year.
The don (3.75 grams) is a Korean unit used to measure gold.
Gold emerged as a credible investment vehicle as the on-going weak U.S. dollar and mounting inflationary pressure prodded investors to look for safer alternative assets, analysts said.
Data showed that the country's key stock index, the KOSPI, spiked 32.1 percent over the cited period. The index, which fell to as low as 930 points in October 2008, rallied to a record high of 2,228.96 points in May this year.
Fixed deposits at banks produced a return of 18.2 percent over the cited period, and real estate, believed to be a "guaranteed" investment instrument among South Koreans, generated a return of 7.6 percent, data showed.
Gold has outperformed other assets in terms of returns to investors in the past three years with a jaw-dropping return of 137.5 percent, followed by stocks with a return of 32.1 percent and bonds with a yield of 20.1 percent, according to data compiled by Yonhap News Agency.
The yellow metal fetched 100,764 won (US$92) per don in South Korea on Sept. 16, 2008, a day after Lehman filed for bankruptcy, but its price continued to soar, reaching 254,284 won per don on Sept. 7, data showed. The retail gold price set a fresh record high, surpassing the 257,000 won mark in August this year.
The don (3.75 grams) is a Korean unit used to measure gold.
Gold emerged as a credible investment vehicle as the on-going weak U.S. dollar and mounting inflationary pressure prodded investors to look for safer alternative assets, analysts said.
Data showed that the country's key stock index, the KOSPI, spiked 32.1 percent over the cited period. The index, which fell to as low as 930 points in October 2008, rallied to a record high of 2,228.96 points in May this year.
Fixed deposits at banks produced a return of 18.2 percent over the cited period, and real estate, believed to be a "guaranteed" investment instrument among South Koreans, generated a return of 7.6 percent, data showed.
