Gold is on the road to another record high Friday morning and continues on its path to break the $5000 barrier. This rise is mostly due to inflation pressures and global instability.
Author: Anthony Mirhaydari
Posted: Friday , 15 Apr 2011
MINEWEB
Fears of inflation and global turmoil have sent precious metals surging, with gold trading near all-time highs and close to $1,500 an ounce. How much further can it climb?
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With turmoil overseas and energy prices on the rise, investors are worried. They're worried about geopolitical risk. They're worried about a falling dollar. And they're worried about inflation becoming entrenched as the Federal Reserve continues to administer its cheap-money medicine despite signs of inflation.
As a result, gold is on the move again. For much of last year, gold moved higher over worries about Europe's debt crisis and a "double dip" recession in the United States. Prices fell into a funk in the fall, though.
Now, a new set of concerns has gripped the hearts and minds of investors. Fear has returned. And the yellow metal has taken flight. Prices hit a new closing high at 1,474.10 last week, and seem headed past $1,500 an ounce.
So how high can it go?............
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