Friday, July 22, 2011 4:01:10 AM
CNN Money-Gold and silver shot up Monday after the credit rating agency spooked Wall Street by revising its outlook for the United States' debt to "negative."
http://money.cnn.com/2011/04/18/markets/thebuzz/index.htm
The two precious metals tend to do well in times when investors are jittery and want to invest in something safe and tangible. Stocks, bonds and the dollar may be just pieces of paper. But you can hold a piece of gold or silver in your hand.
Unsurprisingly then, they have been surging for most of this year thanks to a maelstrom of uncertainty. Egypt. Libya. Japan. Europe's PIIGS. China rate hikes. There's a lot to make you nervous before you even start worrying about Uncle Sam's budget woes.
Gold hit yet another new all-time high Monday and is tantalizingly close to $1,500 an ounce. Silver is just a hair below $43, a 31-year high. Can they possibly keep heading higher?
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