Friday, July 22, 2011
Gold Prices Break Record Highs
Gold prices hit a fresh high above $1600 on Monday as a result of a powerful cocktail of economic uncertainty, dense US deficit ceiling negotiations, European Union sovereign debt concerns and the threat of contagion to the banking sector. Taken singly, the US debt ceiling impasse or the ongoing EU sovereign debt crisis would be sufficient to trigger a gold rally. However together, the affect on gold prices is much more bullish, as investors become wary of USD and EUR assets and seek a safe haven in gold. More information: click here to view more of this
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