Gold prices are reaching all time highs and broke the 1700 price per troy ounce
mark. Concerns over the recent U.S. credit rating downgrade paired with global
worries relevant to the eurozone debt crisis are pushing trends higher in the
gold market. Safe haven appeal of the precious metal is skyrocketing due to the
significant drop offs being observed in the stock market today. stock futures
were positioned lower this morning and since then, the DJIA dropped over 300
points. The volatility, high risk and uncertainty related to stock investments
is pushing many to steer clear of riskier stock options today and position with
the safe haven yellow metal. Gold is absorbing even more of the safe haven
interest due to the credit downgrade and the weakened U.S. dollar. These
variables will continue to help support gold prices and push the precious metal
trends higher. Many economists feel that gold will continue to advance as more
investors seek bullion over U.S. Treasuries. Interest in gold is climbing to all
time highs globally and current prices continue to trend up the ladder. Current
electronic price posting for December delivery gold contract is higher by 3.47
percent at 1709.20 per troy ounce. Spot gold price per gram is higher by 1.84 at
54.85 as the mid-day mark of the trading session approaches. Camillo Zucari
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