Gold hits another intra-day
All-time high Friday
Trending today is a business article from CNNMoney.com in New York. Gold prices climbed to another intra-day all-time high after week-long rally.
Gold futures for December delivery reached $1,284.40 per ounce. That was slightly above the previous intra-day high of $1,279.50 per ounce and the record close of $1,273.80 per ounce set only the day before, Thursday 16th.
The rally is said to be fueled by uncertainty over the entire global economy and a "complete lack of confidence in the governments of the world being able to sort out their financial mess," said Gary Mead, senior commodity analyst with VM Group of London.
Jono Remington-Hobbs, a precious metals analyst with TheBullionDesk.com in London, said, "The more we're going to hear talk about the quantitative easing(referring to the buying of bonds by the U.S. government), that's going to be real beneficial for gold."
Silver has also marched up to $20.90 per ounce, which is the first time it has broken twenty dollars since 2008.