\u00a0Seems the lowered U.S. credit rating\u00a0and eroding\u00a0dollar\u00a0have helped propel gold ~<\/p>\n
An AP article said today\u00a0\u2014 “Gold prices pushed to new heights Tuesday as investors digested the possible consequences of the lowered U.S. credit rating and Europe’s debt crisis on a slowing global economy.<\/p>\n
The declining appeal of the U.S. dollar as a safe place to park funds and nervousness about flagging global growth have helped propel gold.<\/p>\n
Some investors view gold as a safer bet amid rising worries about debt levels of the major economies and uncertain stock markets. Its value, unlike that of a currency, doesn’t hinge on whether countries can make their bond payments, or on the vigor of their economies.<\/p>\n
Gold futures rose $29.80, or 1.7 percent, to $1,743 per ounce after setting a record price of $1,782.50 earlier in the day.<\/p>\n
The metal’s price has more than doubled since the recession began in late 2007, and its climb accelerated this summer.<\/p>\n
Gold is more than a currency substitute or an investment for scared traders desperate to latch on to an asset that isn’t losing value.”<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00a0Seems the lowered U.S. credit rating\u00a0and eroding\u00a0dollar\u00a0have helped propel gold ~ An AP article said today\u00a0\u2014 “Gold prices pushed to new heights Tuesday as investors digested the possible consequences of the lowered U.S. credit rating and Europe’s debt crisis on a slowing global economy. The declining appeal of the U.S. \u2026<\/p>\n