Gold Advances to Record on Debt Crisis

Gold climbed to a record in London and New York as concern about Europe’s debt crisis spurred demand for the metal as a protection of wealth. Bullion rose to an all-time high in British pounds.

Ireland joined Portugal and Greece yesterday as the third euro-area nation to have its credit rating cut to below investment grade. Concern about default in the euro region, faster inflation and a weakening dollar spurred investors to hold $125.4 billion of assets in exchange-traded products backed by precious metals, and has also sent bullion to an all-time high in euros.

URL: http://www.bloomberg.com/news/2011-07-13/g...lternative.html

Gold booming was only start around 2004-2005.

A chart represent thousand word.

In the 1970's, gold price was booming for about a decade, before stagnant for 25 years.

Quoted from http://goldprice.org/gold-price-history.ht...year_gold_price