BBC
The price of gold has risen to a fresh all-time high of $1,594.16 an ounce, and the dollar has fallen, on concerns the US may default on its debts.
The moves came after ratings agency Moody's said it may cut the debt rating of the US, warning there was a "rising possibility" it will default.
To avoid default, US politicians have to agree to raise the country's debt limit by 2 August.
Democrats and Republicans are currently in dispute over how best to do this.
'Shockwaves'The spot price for gold rose to a record high of $1,594.16 an ounce in Thursday trading, before easing to $1,590.66.
Gold is seen as the number one haven purchase in times of economic uncertainty, but analysts said its rise was also caused by the fall in the dollar, which makes the precious metal more affordable for holders of other currencies...[Full Article]
