20
April
Gold Tops $1,500 on Outlook for Escalating U.S. Debt, Dollar (GC in Bloomberg)
20 April 2011 Business Week
Gold extended gains to a record in New York as a drop in the dollar buoyed demand for the metal as an alternative investment.
Futures surged yesterday after Standard & Poor’s revised its U.S. credit outlook to negative. Gold has jumped 5.3 percent this year as the dollar dropped 4.8 percent against a basket of six other currencies including the euro and British pound.
