Gold was the clear winner again in 2008 - trouncing all other asset classes for the second consecutive year and the third time since 2005.
And in mid-February 2009, the gold prices hit a seven-month high, reaching $973.20 an ounce.
In February 2009, Gary Dugan, of Merrill Lynch Global Wealth Management, said: 'The unprecedented fragility of confidence is forcing investors back into safe havens, with gold the top beneficiary.
'It looks as if we will see a test of the $980-990 resistance very soon.'
UK investors would have seen a £1,000 invesment grow to more than £1,400, in 2008, according to BullionVault, a gold dealer.
Notably over the same period the FTSE 100 index of the UK's top firms collapsed by 31%.
However, investors need to remember that gold's rise over the year was largely dependent on the pound tumbling in value against the US dollar, the currency gold is priced in. So, in dollar terms gold rose by just under 4% in 2008.
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