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Gold shoots to new high on euro worries

Posted By admin On November 9, 2010 @ 10:13 am In Money Watch | Comments Disabled

Will Roberts
IFA Online [1]
Tuesday, November 9, 2010

Gold prices have hit another record high on the back of Euro sovereign debt concerns and inflation worries.

This morning, the price of gold rose 1% to a high of $1,422.30 a troy ounce. The precious metal’s price has now surged 7.5% since the Federal Reserve said last week it will inject $600bn into the economy in its latest stimulus measure, dubbed “QE2″.

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Gold shoots to new high on euro worries 260310banner2 [2]

Having A Supply Of Healthy Foods That Last Just Makes Sense (AD) [3]

The Fed’s action, which triggered widespread international criticism, has heightened inflation worries and increased interest in gold, seen as a safe haven during periods of economic uncertainty.

Gold has also rallied on the back of renewed Euro debt concerns as investors mull Ireland’s current economic difficulties. The country, which is set to unveil its new budget soon, currently has a deficit standing at 32%.

Full story here. [1]


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URLs in this post:

[1] IFA Online: http://www.ifaonline.co.uk/ifaonline/news/1895026/gold-shoots-euro-worries

[2] Image: http://purewaterfreedom.com/

[3] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[4] Gold hits 2-1/2 week high on euro zone jitters: http://www.prisonplanet.com/gold-hits-2-12-week-high-on-euro-zone-jitters.html

[5] Gold in euro terms hits record high 816.33 euro/oz: http://www.prisonplanet.com/gold-in-euro-terms-hits-record-high-816-33-eurooz.html

[6] Is Gold No Longer A Safe Haven? Not According To Capital Economics: “Gold Will Surge When Euro Crisis Escalates”: http://www.prisonplanet.com/is-gold-no-longer-a-safe-haven-not-according-to-capital-economics-gold-will-surge-when-euro-crisis-escalates.html

[7] Gold rallies 2 pct on haven buying, hits euro high: http://www.prisonplanet.com/gold-rallies-2-pct-on-haven-buying-hits-euro-high.html

[8] As The Dollar And The Euro Continue To Collapse, How High Is That Going To Push The Price Of Gold?: http://www.prisonplanet.com/as-the-dollar-and-the-euro-continue-to-collapse-how-high-is-that-going-to-push-the-price-of-gold.html

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