Gold Price Hits Record $1,600

We spotted this today:

"The price of gold jumped above $1,600 (£1,000) an ounce for the first time as debt worries in the US and Europe continued to trouble investors.

The precious metal rose $12.30 to settle at $1,602 an ounce in London trading Monday.

Monday was the 10th straight day of gains for gold, a record breaking rally.

Gold is considered a safe investment and usually gains at times of global economic uncertainty."

Statistics Source: BBC.

We have written about the total gold in the world, nixon shock and gold statistics before.