Gold is Up, Dollar Down . . . Again

No, this is not a repeat of last week or last month: the US Dollar continues to slide as gold continues to soar. Where is your money the safest?

Gold jumped to a record price as the slumping dollar boosted bullion’s appeal as an alternative asset. Silver also gained. Gold futures touched an all-time high of $1,174 an ounce in New York, after the dollar fell as much as 0.9 percent against the euro. Gold has posted records during nine sessions this month, and is up 32 percent this year as investors and central banks increased their holdings of the metal to preserve wealth. Russia’s central bank said it bought more bullion last month.

SOURCE: Gold Jumps to Record as Slumping Dollar Spurs Investment Demand - Bloomberg.com

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