01 December 2010

Gold sets new record Prices in Sterling and Euro

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 latest bout of realization among investors has sent many dashing for the exits, seeking shelter in precious metals, namely Gold and Silver.

The latest premium spike in Physical metal seemed to hold firm with sellers requesting 19% over fix on popular 1 ounce Gold bars in the UK and 18% for equivalent fixed price Gold bars in the US.


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