Following my last post, here is more evidence that inflation is a real risk. My advice to those of you who are contemplating getting into the property market, you should start to take some serious- but prudent steps in that direction. If we do have an “inflation bomb” it will be likely to be fast and furious- much like the GFC which took everyone by surprise. If you are enjoying a low interest rate on any mortgages, this may be the time to fix the rates long term. In other words- be prepared.
Gold price hits record high as inflation fears rise
The price of gold hit an all-time high today, rising above $US1450 an ounce on fears of global inflation and further sovereign debt problems in Europe.
Spot gold reached a record high of $US1455.06 an ounce before easing back slightly during today’s trading.
US gold futures for June delivery settled up 1.4% at US$1452.50.
read it here at nbr.co.nz