Investor Fear Pushes Gold Futures to $1,000 Per Ounce
Gold futures touched $1,000 per ounce for the first time since July in trading today as panicky investors continue to look for somewhere to stow their money and stanch losses.
Consumer prices rose this morning, fanning fears of inflation -- though one of the few benefits of the ongoing recession is it is likely to keep prices in check. But if inflation rises, the dollar will lose its value while gold will likely hold its value, making it a safe-haven investment.
Gold hit its all-time high of $1,030.80 per ounce last March.
February 20, 2009; 12:25 PM ET
Categories: The Ticker | Tags: Gold, dollar, inflation
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