Democratic Underground - Gold hits 25 year high as concerns about economy loom

Gold hits 25 year high as concerns about economy loom [View All]

garybeck

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Mon Jan-09-06 01:43 PM
Original message

Gold hits 25 year high as concerns about economy loom

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Edited on Mon Jan-09-06 01:45 PM by garybeck

when economists worry about inflation and the economy, they buy gold. the recent skyrocketing of the price of gold should tell us something. the experts are worried.

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LONDON (Reuters) - Gold rallied to hit a new 25-year peak in Europe late on Monday as fund managers shifted more money into the metal on worries about inflation, economic growth and the dollar, analysts said.

The metal traded erratically during the day, climbing in Asian business to its highest since March 27, 1981, before slipping 1.6 percent in Europe and then rebounding to set a new high.

The market is targeting the key level of $550 an ounce.

full article:
http://today.reuters.co.uk/news/newsArticle.aspx?type=businessNews&storyID=2006-01-09T165943Z_01_KRA961147_RTRUKOC_0_UK-MARKETS-PRECIOUS.xml&archived=False

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Gold hits 25 year high as concerns about economy loom [View All]