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The gold price continued its upward climb All Over the Wolrd
Gold was trading almost US$7 short of the key US$1,600 mark on Thursday morning after ratings agency Moody's Investors Service warned of a potential downgrade of US debt ratings.
At 11:30, gold was trading at US$1,593.16, US$10.17 higher than the JSE's previous close of US$1,582 an ounce.
"Safe-haven diversification has propelled gold to a fresh peak of US$1,590.10 overnight, with silver currently up 1.4%, leading the gold/silver ratio to its lowest in over a month. More gains seem likely, with gold on course to challenge US$1,600 as default fears continue to drive investors towards more tangible assets," said James Moore, a research analyst at FastMarkets. read more
At 11:30, gold was trading at US$1,593.16, US$10.17 higher than the JSE's previous close of US$1,582 an ounce.
"Safe-haven diversification has propelled gold to a fresh peak of US$1,590.10 overnight, with silver currently up 1.4%, leading the gold/silver ratio to its lowest in over a month. More gains seem likely, with gold on course to challenge US$1,600 as default fears continue to drive investors towards more tangible assets," said James Moore, a research analyst at FastMarkets. read more
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