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PRECIOUS-Gold hits record as debt worries mount, Thailand buys | Reuters
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Gold hit a second successive record high on Wednesday, driven by deepening fears over the spread of the European debt crisis and its impact on regional growth, while data showed a number of central banks including Thailand bought gold in June.
The United States managed to avert an unprecedented debt default on Tuesday after lawmakers agreed to raise the country's borrowing limit. But, the focus turned to credit ratings agencies, which have warned the country could lose its top-notch rating as its finances remain fragile.
The nervousness over the U.S. economy was compounded by the latest developments in Europe, where Italian bond yields rose to their highest in over a decade above 6 percent, a level widely viewed as unsustainable, adding to the lure of gold as a safe-haven investment.
PRECIOUS-Gold hits record as debt worries mount, Thailand buys | Reuters
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