3
March
Gold hits record high in euros, sterling (GC in Reuters)
3 March 2010 Reuters
On the COMEX, the 1.7 percent gain was the sharpest in two weeks. Uncertainty over plans to tackle Greece's fiscal crisis and over what the next British election may mean for UK debt have heightened volatility in the European currencies, lifting interest in gold as an alternative asset, analysts said.
...
"Markets fear the UK government will be forced to create more sterling in order to buy their own government bonds and that quantitative easing and debt monetization may continue for longer than expected," and that could lead to further gains in gold, bullion dealer GoldCore said in a note.
