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.


    http://finance.yahoo.com/news/Gold-...7.html?x=0&sec=topStories&pos=2&asset=&ccode=
     
  2. lightbeam

    lightbeam Antiquities Friend

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