Investors in gold futures have some potentially difficult choices to make in the coming weeks with the precious metal trading at yet another record level.
For much of the past decade, gold prices have been on upward trajectory, which has invited warnings from some economists who maintain that there is a bubble underway that will eventually burn investors who bought in at high prices.
However, the precious metal has continued to confound the naysayers in recent months by continuing to reach record price levels.
Much of this has been due to worries about whether one or more European nations will end up defaulting on their bond obligations, potentially setting up another wave of large financial losses for the continent’s banks.
According to a Bloomberg News report, gold prices hit a new high this week just above $1,251 per ounce. The financial news network cited an opinion from Deutsche Bank AG that the precious metal could go as high as $1,700 on concerns about the euro zone, while others in the financial industry have suggested prices could even reach $2,000 depending on the eventual scope of the debt crisis.
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