Friday, April 22, 2011

Gold at all time high: Fear, uncertainty driving gold rush

Image: A goldsmith displays gold bangles in his jewellery shop in Istanbul

Uncertainty about the economy's strength, fears about rising prices, worries over global instability. Investors are facing an onslaught of headlines, from inflation to turmoil in North Africa, that is driving them into the arms of gold.

The precious metal blew past $1,500 an ounce this week to record levels in dollar terms, rising for six straight sessions. The precious metal is still trading below its inflation-adjusted peak of about $2,200 an ounce, however.

There are no guarantees that gold prices will keep rising from historic levels. For now, though, just about all the forces that have traditionally pushed gold prices higher are in place. Story Here

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