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Jul 28, 2011 8:00 pm

How many "Gold Hits A Record High" articles can be written? I mean it seems like literally week to week gold will not stop climbing the economic charts. Gold is the biggest thing in money right now for a few reasons but with the fears of a looming crisis as a result of political foot dragging on the debt ceiling it is hitting heights that would have been unimaginable just a few years ago. If the government does, as many fear, default on it's debt gold is going to become even more of a powerful currency indicator.

Investors worried about the United States government defaulting on it's debt are buying gold at record levels because it is a sure fire way to keep their investments locked into a safe area. Of course this philosophy has been maintained by gold refineries in New York for years now, it seems the world is catching.

Some folks continue to snub their noses at the every NY gold refinery preferring to put their confidence in the fact that a deal will be reached. Still, even if said deal occurs it will do so at a great cost and inevitably these issues will once again creep to the surface.


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