Gold Hit New High in Weak USD, Renewed Sovereign Concernins, Inflation Worries...

Gold surged and hit a fresh record high today as driven by a series factors: weak USD, renewed sovereign concerns in the European periphery, inflation pressures and rises in oil prices. The benchmark contract for Comex gold struck an all-time of 1480.5 in Asian session today before pulling back to 1475. The contract rallied +1.15% yesterday. Silver also soared with the benchmark contract rising above 42 for the first time since 1980.

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Gold Hit New High in Weak USD, Renewed Sovereign Concernins, Inflation Worries...