According to the Financial Times, as the Greek debt crisis caused turmoil in European financial markets, investors have turned to gold, a relatively safe investment. Gold prices in euros reached a record high of 963.1 euros per ounce on May 12.
At the same time, production reductions triggered by 10 consecutive years of low prices in the natural fiber industry gradually penetrated into the supply chain, coinciding with a strong recovery in demand, causing prices to soar rapidly. The prices of silk, cotton and wool are at their highest levels in the past 15, 14 and 30 years respectively. This is already starting to take a toll on the textile industry, but the extent to which it will affect the mainstream consumer market is unpredictable.
