Gold at $1,718 an Ounce, Chance for US Economy to Fail is 90%
At 12:55 pm Jakarta time (GMT+7) gold price strikes a record high of $1,712 an ounce. Only within 3 weeks gold price made a huge jump of over $200 from its $1,500 per ounce level. A Tokyo-based trader told Dow Jones Newswire, “People are just taking their money out [of other markets], especially from the dollar and euro and investing in gold and the Japanese yen.” After Standard & Poor’s downgrade of US debt, the Asian stocks tumbled, and investors flocked to precious metal as safe haven, pushing gold price to yet another all-time high. Market-watch.com writes: The latest rally
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