i think we all know where this is going ..., page-5

Gold price at all-time high Holly Williams
April 20, 2011 - 6:04PM
.PAA

http://news.smh.com.au/breaking-news-world/gold-price-at-alltime-high-20110420-1donb.html


Gold has broken the $US1,500-an-ounce barrier for the first time as fears over the global economy send investors flocking to safer investments.

The precious metal has hit a fresh all-time high in the wake of Monday's shock debt downgrade warning for the US, which also resulted in silver prices reaching a 31-year record.

Standard & Poor's (S&P) sparked hefty share falls earlier this week when it slashed its outlook on US government debt to negative from stable.

Advertisement: Story continues below The move added to continuing concerns over Europe's sovereign debt crisis and rising global inflation, which has seen a flight to safety among investors.

The US dollar has also been under pressure since the S&P blow, further fuelling the rise in gold prices.