Gold Breaks Record $1,900 Barrier
If the Federal Reserve announces another round of quantitative easing, analysts project the precious metal could hit $2,000 for the first time in history. Even with a strengthening dollar, investors have been rushing to gold as they flee European and American stocks.
"Gold has continued to blast ahead even with a relatively strengthening U.S. dollar, strongly performing treasuries and other safe havens. All of that tells me that this is really all about preserving real purchasing-power," Peter Richardson, chief metals economist at Morgan Stanley Australia Ltd., told Bloomberg. BBC News is pointing to Ben Bernanke's speech at the Jackson Hole, Wyo. summit next week as a sign that Bernanke might announce new stimulus projects from the Federal Reserve:
Read the full story at The Atlantic Wire.