Gold reclaims its role as the world's basic currency

05/13/2010 | Christian Science Monitor, The · Reuters

The price of gold keeps climbing, setting another record high as investors look for ways to hedge against loose monetary policy in the eurozone and a ballooning deficit in the U.S. Analysts at Bank of America Merrill Lynch predicted that gold will trade at $1,500 an ounce by the end of next year. Taking the opposite view, Capital Economics said gold is likely to fall to less than $1,000 per ounce by the end of 2010.

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Christian Science Monitor, The · Reuters

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