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Dow Jones Newswires: Debt Fears Catapult Gold over $1600

LONDON, 19 July 2011 - Gold's rise to new all-time highs above $1600, as reported by Dow Jones Newswires and led with comment from world No.1 gold ownership service BullionVault, is widely syndicated across the internet today.

Republished by top US financial newspaper the Wall Street Journal online, "Gold has been one of the best performing assets of the last decade, pushing into uncharted territory and raising concerns that the market may be overheating," writes Dow Jones reporter Matt Day.

But "people have been saying gold is a bubble at $1200, $1300, $1400 or $1500," the newswire then quotes Adrian Ash, head of research at London-based BullionVault.

"At some point that will become true, but people keep buying, and it keeps going higher."

Pointing to the US debt-ceiling wrangle, as well as the continuing Greek deficit crisis in the Eurozone, "When you've got politicians bickering openly, people will choose to buy a lump of rare, indestructible metal," says Adrian.

Wall Street Journal subscribers can read the whole story here...

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Dow Jones Newswires