Nov
12
The price of gold continues to rise, now hitting an all-time high of $1,123.38 an ounce. For good reason too. Investors now see it as an alternative to the slumping US dollar.
But we can expect the gold price to just keep going up with reports that global gold production is in terminal decline despite record prices. And with the financial crisis hitting hard, it’s likely that exploration companies will be shelving plans to discover fresh sources of ore.
That will drive the price up further. More to the point, it’s likely to prevent any recovery in the greenback
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