US worries push gold to new highs

Concerns over the fiscal situation in the United States are likely to push gold prices well beyond recent record highs, analysts have said.

16th April, 2011

Concerns over the fiscal situation in the United States are likely to push gold prices well beyond recent record highs, analysts have said.

GFMS, a leading independent precious metals consultancy based in London, forecast last week that gold would trade above $1,600 per ounce this year, a record nominal high.

A breakdown in faith in fiscal policy-makers and government handling of economic policies will continue to support the gold price and drive it higher, according to...

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