Investors Fled to Safe Havens as Debt Fears Escalate
SylviaHunt30Gold broke 1600 for the first time on record as debt fears in the Eurozone and the US mounted. The benchmark Comex contract advanced for a 10th consecutive day, rising to as high as 1607.9 before settling at 1602.4. Risk appetite was undoubtedly weak with Swiss franc, another safe-haven, rising to a record high against the euro and the US dollar. The market expects to see parity in EUR/CHF. With the exception in precious metals, others in the commodity sector slumped.
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Investors Fled to Safe Havens as Debt Fears Escalate
