GOLD PRICE NEWS – The gold price climbed $9.11 to $1,553.31 Monday amid growing fears over the European sovereign debt crisis. The price of gold rose to as high as $1,557.20 per ounce this morning, just 1.3% shy of its $1,577.40 all-time record high, reached on May 2 of this year. Equity markets around the world tumbled, while U.S. exchanges were set to open substantially lower.
Alongside the gold price, the U.S. dollar was one of the few asset classes moving higher on Monday. The euro currency came under considerable pressure against the dollar, falling 1.4% to 1.4022. Silver prices held near unchanged at $36.71 per ounce, while cyclical commodities including oil and copper suffered steep declines.
