Gold and Silver beat all other assets in 2010, Lloyds TSB's Assetwatch survey finds

From the UK Telegraph:

It was the fourth time in the past five years that precious metals have topped the tables for the best asset class, as continuing uncertainty over the prospects for the global economy caused investors to flock to gold, silver and platinum, according to Lloyds TSB's Assetwatch survey.

The report coincided with a new record high in the gold price. The metal reached $1,445.70 an ounce on Monday – a rise attributed by traders to the unrest in the Middle East.

The value of precious metals has surged by 365pc during the past 10 years, Lloyds TSB's survey found, nearly double the increase for the next best performing asset during the same period – residential property, which made a gain of 198pc.

The steep increase in precious metal prices seen during 2010 was driven by silver, with its value jumping by 80pc, significantly outstripping the 29pc rise in the price of gold and the 20pc increase for platinum.

Lloyds said the price of silver had been boosted by pressure on the supply of the metal, as demand remained high from both investors and the industries which use it.....read on