Gold prices soared while oil and other commodities fell to a seven month low yesterday (Monday September 15), in the wake of the collapse of Lehman Brothers.
Global stockmarkets have plunged since the US investment bank filed for Chapter 11 bankruptcy protection on Sunday and Bank of America agreed to buy Merrill Lynch for $50bn.
Stocks on the world’s exchanges plunged in reaction to news about the Lehman collapse. The FTSE 100 and CAC 40 indices fell nearly 5% on Monday morning, before recovering to end 3.9% and 3.8% down, respectively.
However, on Tuesday September 16 the FTSE was down a further 3.2% by lunchtime...