Gold has struck yet another record high as the dollar continues to weaken, but the Obama administration has said it won’t intervene. Early trading in London saw gold rocket to $1,217.23 an ounce, after it hit a number of record highs in recent weeks. Silver also rose to within 5% of its all-time peak. With the dollar weak, investors want safe assets. The price of gold also hit records in yen, euro and sterling trade. Other factors have played a part. Dubai’s call for an extension on $60 billion of debt has reignited fears about bank lending. And gold has fairly recently again become the primary store of value after decades of bottom-feeding, with central banks in China, Russia and India having bought the metal to protect themselves against economic uncertainty. Read more: BBC, Daily Mail, BBC
Riding a Black Unicorn Down the Side of an Erupting Volcano While Drinking from a Chalice Filled with the Laughter of Small Children is the title of a dark cabaret album by 'Voltaire'