Market chaos: Gold and Yen offer investors safe haven
Sunday 21 August 2011
Investors are continuing to pile into safe havens of gold, the Swiss franc and yen as market turmoil persisted on Friday.
The global markets are awaiting next weeks Fed meeting at Jackson Hole in the US in the hope Ben Bernanke, the Federal Reserve chairman, will ease fears of a double-dip recession. So far Europe's leaders have failed to comfort the markets with eurozone policy changes.
*Dow Jones 10,818 down 4.01 per cent on the week
*FTSE 5040.76 down 5 per cent on the week
*DAX 5480 down 8.6 per cent on the week
*CAC40 3017 down 6.13 per cent on the week
*Nikkei 8719.24 down 2.7 percent on week
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