Jul 20, 2011

gold price to new record

why ?

# Debt problems in the US and Europe have pushed the gold price to a new record above $US1600 an ounce

Winmill expects gold to rise to $US1,800 by the end of 2012.
# Investors believe gold is safe because it doesn't depend on a government's ability to repay a bond, like a Treasury or a Greek note.

# Demand for gold from dentists for crowns and from companies for use in electronics was flat. Demand for gold in jewellery rose 7 per cent.


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