20 Apr '11, 9am

BREAKING: Gold tops $1,500 It would be much higher, but #Bankers are selling imaginary #Gold! #Greed & #WallStreetFraud

LONDON - The price of gold topped US$1,500 for the first time on Wednesday as a weaker dollar plus fears over high inflation and debt attracted investors into the traditional safe-haven precious metal. Gold reached US$1,505.65 an ounce at 0945 GMT on the London Bullion Market. It later traded at US$1,503.60. Silver meanwhile hit a fresh 31-year high of US$44.79 an ounce. "Gold remains comfortably underpinned with short-term inflation pressures and economic woes triggering some fresh safe haven inflows," said Andrey Kryuchenkov, commodities analyst at Russian financial group VTB Capital. The metal is seen as a safe store of value in troubled economic times. Gold began its surge towards US$1,500 on Monday after ratings agency Standard & Poor's revised its outlook on US sovereign debt to "negative" from "stable". S&P's move challenged Washington's gold-star "AAA"-rated standa...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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