Gold gains traction in the Soveriegn debt mire
Gold fixed at a nominal record high in Sterling and Euros in London this morning as the yellow metal has finally gained traction in the Euro Soveriegn debt mire that has pushed eurozone bond yeilds to record highs. Gold this morning fixed at $1,391.50 / £890.16 / EUR 1,062.62
Investors are questioning if the European Union has the resources or the political will to continue to bail out member states, with Portugal and even Belgium under pressure from the bond markets.
This lastest bout of realisation amongst investors has sent many dashing for the exits, seeking shelter in precious metals, namely Gold and Silver.