IPFS News Link • Precious Metals
Gold Tops $1,500 on Outlook for Escalating U.S. Debt, Dollar
• BloombergGold futures rose to a record $1,500.50 an ounce as U.S. debt concerns weighed on the dollar, boosting demand for the precious metal as an alternative investment.
The greenback dropped against the euro on speculation that the European Central Bank will continue to raise borrowing costs as some nations struggle to contain sovereign debt.