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Tuesday, August 2, 2011

Gold yet another all time high record at $ 1,660/oz

It triggered a new record on the inevitable price of gold, the safe haven par excellence that is pushed upward for weeks by the climate of tension that is gripping the world markets. The ounce reached a peak at $ 1,640.9 on the platform of CME Group, up about $ 20 compared to yesterday's closing and setting a new record high. Gold is used by investors as a means to protect themselves from the turmoil that may affect the equity markets, as well as government bonds or foreign exchange markets.
Today the stock markets worldwide suffered sharp declines again, while tensions are recreated on bonds of different countries of the euro zone. Meanwhile in the U.S., if you are hoping for a lucky escape on the risks of default on payments due to an agreement on budgetary rules, it is feared a sharp slowdown of the economic recovery.

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