Price of gold breaks $1,000 barrier

The price of gold has risen by a fifth so far this year, having increased by 32pc in 2007. William Rhind, head of sales at ETF Securities, said: "We feel that the fundamentals for gold are still very positive. "The reason is that you have no real new supply coming onto the market and the supply and demand fundamentals haven't really changed. "What has changed is the fall out from the US sub-prime crisis and global financial market turbulence." Rhind claimed that this impacted the gold price because investors have taken fright. He added that there were three important factors drivi...