| Gold reached an all-time high above $1,600 an ounce in mid-July amid the continuing European sovereign debt crisis and as uncertainties persist over the US debt ceiling.
Investor anxiety over contagion risk and Greece’s debt woes spreading to Italy and other Mediterranean countries, as well as Moody’s decision to put the US credit rating on review for a downgrade, have fuelled flows into the precious metal more recently as a perceived safe haven..............................................Full Article: Source
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