The Wall Street Journal reports that -Gold futures continued their march into record territory for a second day on Wednesday, with some traders and analysts expecting prices to soon breach $1,700 an ounce as worries mount about the health of the global economy.
Recent economic data from China, Europe and the U.S. suggest slowing growth, and sovereign debt worries rattled bond markets this week in Italy and Spain. Investors also remain cautious as the U.S. may yet face a downgrade of its credit rating despite Tuesday's agreement to raise the country's borrowing limit.
The most actively traded gold contract, for December delivery, climbed $21.80, or 1.3%, to settle at $1,666.30 a troy ounce on the Comex division of the New York Mercantile Exchange. Futures rose as high as $1,675.90 an ounce, a record intraday high for a most-active contract....
Find out more at http://online.wsj.com/article/BT-CO-20110803-714447.html
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