Jan. 16, 2012, 2:58 p.m. EST
Gold climbs after another S&P Europe downgrade
By Kate Gibson and Chris Oliver, MarketWatch
NEW YORK (MarketWatch) – Gold prices advanced Monday as Standard & Poor’s cut the rating of the European Financial Stability Facility, keeping investor focus trained on Europe’s debt troubles.
Gold futures for February delivery rose $12.70, or 0.8%, to $1,643.50 an ounce in electronic trade on the Comex division of the New York Mercantile Exchange, where floor trading was closed due to the Martin Luther King Jr. holiday.
S&P downgraded the euro-area’s bailout fund to double-A-plus from triple-A, the rating agency said on its website. Read more on the downgrade Europe’s rescue fund.
The move follows Friday’s downgrade by S&P of nine euro-region nations, including France.
More: http://www.marketwatch.com/story/gold-futures-gain-in-asian-trading-2012-01-16?link=MW_home_latest_news
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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