THE TELEGRAPH: The price of gold, a safe-haven investment in times of economic uncertainty, has struck an all-time high above $1,269.
Gold hit $1,269.45 on the London Bullion Market on Tuesday afternoon, beating the previous record of $1,265.30 struck on June 21.
"Renewed sovereign debt concerns" have driven up gold, said Robin Bhar, senior metals analyst at Credit Agricole bank. Fears of a resurgent eurozone debt crisis are likely to stunt European economic growth prospects this year, the EU warned on Monday.
"The global recovery is still expected to be uneven and is surrounded by major uncertainties," the European Commission said in its autumn forecast, citing "the resurfacing of global imbalances, high debt levels and lingering tensions in sovereign-debt markets". >>> | Tuesday, September 14, 2010
