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Gold Bullion continues ascent on Euro fears

Gold Prices continue to rise as a result of fears surrounding debts in the eurozone, with investors looking to Buy Gold as a hedge.

That is according to one analyst at RBS, the majority-state owned UK bank that has over 140,000 employees.

Nick Moore, an analyst at the 300-year-old institution, told Reuters that the continuing debt problems being suffered in the eurozone are good for gold.

"With the contagion of Greece, Portugal and Spain coming through, it has given a perfect backdrop for those who view gold as a safe haven," he said.

"We have had a record gold price in euros, sterling, and Swiss francs."

Fears that a wider bailout may be needed could drive Gold Prices in dollars even higher.

According to Simon Kennedy and Emma Ross-Thomas writing in China Daily, delays made by German chancellor Angela Merkel to EU45 billion ($59 billion) of aid for Greece suggest the crisis is spreading.

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