Gold Breaks Records, Dollar Weakens

The ongoing economic troubles have taken their toll on the dollar as investors worry about the stability of the currency and the possibility of inflation. However, the conditions that spell tough times for the dollar have also set the groundwork for the meteoric rise of the value of gold, which today reached an all-time high of $1,069.70 an ounce in New York, surpassing the record set on October 8 of this year.
According to analysts, gold is on the way to its ninth straight annual gain, its value having increased 20 percent this year alone. However, the dollar has plummeted 6.8 …read more