Gold at 1,800 USD per ounce

Discussion in 'Soap Box' started by Prinnctopher's Belt, Aug 10, 2011.

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  1. Prinnctopher's Belt

    Prinnctopher's Belt Antiquities Friend SF Supporter

    Gold shoots past record $1,800 an ounce as investors continue to pour money into hard assets
    The Associated Press, On Wednesday August 10, 2011, 1:28 pm EDT

    The price of gold surpassed $1,800 an ounce Wednesday for the first time as investors pulled their money out of stocks and snapped up precious metals contracts.

    Gold is fast becoming a favorite port in a storm of uncertainty. Investors are clinging to what they see as a hedge against volatile stock and currency markets.

    December gold contracts backed off their highs, and traded around $1,785 an ounce during midday trading after reaching a record $1,801 an ounce earlier in the day on the New York Mercantile Exchange.

    Gold prices have shot past a series of milestones over the past two years on an uninterrupted climb. Gold was trading at about $900 in the summer of 2008, before the financial crisis unfolded that year.

    Resulting turmoil in currency and stock markets has burnished gold's luster.
  2. lightbeam

    lightbeam Antiquities Friend

    If only I had a few ounces of gold...
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