USA TODAY: Gold shot up $17.80 Wednesday, to an all-time high of $1,290.50 an ounce for October delivery, driven by weakness in the value of the U.S. dollar.
Investors often rush to precious metals when they’re worried about the value of paper money. Normally, that means inflation fears.The Fed’s powerful Open Market Committee signaled Tuesday its willingness to buy assets as a way of pumping more money into the system, a technique known as quantitative easing…
Fears of more dollars flooding the market were enough to drive down the value of the dollar on international currency markets. It now takes $1.339 to buy a euro, the pan-European currency, vs. $1.325 on Tuesday… (more)
