Greece and Portugal Credit Dip Sees Gold Soar

MANCHESTER, England, April 30, 2010 - The price of gold has hit a four month high over the last couple of days,
largely attributed to a credit dip for Greece and Portugal.

The rating agency, Standard & Poor, recently dropped the credit rating of
both Greece and Portugal, which in turn saw the demand for the precious metal
increase. In terms of the price per ounce in Sterling, this hit a record
GBP767!

The downgrading of the credit rating of the Greek could restrict their
access to vital funds and shortly after S&P downgraded Portugal's rating, the
price of gold in dollars rose from $1145 to $1172.60.

This rise is attributed to 'safe haven demand,' whereby uncertainty
around any major currencies sends investors seeking an alternative asset. The
precious metal's ongoing status as a safe alternative to many paper
currencies meant investors were keen to purchase gold bullion (
goldmadesimple.com) in light of the bad economic news in Europe.

The downgrade to the credit ratings of these nations meant dramatic
changes for the FTSE 100 index as well, which saw GBP39 billion wiped off its
value.

Contact: Gold Made Simple, Jason Cozens, Managing Director, +44(0)845-688-4491