Gold prices soar to record highs

The price of gold has increased to an all time high as international tensions in Venezuela cause rates to skyrocket. 

Earlier this week rates reached a record high of $4,600 per week, which is an increase of 7%.

The rising rates allegedly come down to global tensions in Venezuela, Ukraine and Greenland, which investors consider more valuable than ever.

Silver has also had a 30 per cent return in the first three weeks of the year.

Local investment businesses have seen this as an opportunity to gain more business.

Fraser McDonald, owner of the Cash Creators in Bournemouth, said: “There are people that walk in that are expecting a couple of hundred pounds and they are walking away with thousands of pounds.

“Gold used to be you sat on it for 20 years to get your profit back, now we’re talking years or months to get a turnaround on it, which is crazy, I don’t know any other market where you can recoup your money that quickly.

The rates of these two materials have outpaced the growth of house prices and major global stock indices.