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Gold price soars to all-time high
Business digest: Gold is seen as safe bet as global economy continues to worsen
The price of gold hit an all-time high on Wednesday as the eurozone crisis continued to worsen and news broke that the US was considering further quantitative easing.
Investors tend to use gold as a safe haven against the falling value of currencies, making the commodity a pseudo-currency in itself.
Gold's price, officially listed in dollars, has seen eight consecutive days of growth, the most since October 1996.
Analysts predicted that gold would continue to rise in value over the next five years, making it a worthwhile investment in the face of a continuing global recession.
Read a full report at the Daily Telegraph. ·
