Gold prices rise to record highs
Gold prices rose to record highs above $1,625 on Thursday, with silver and palladium also rallying, as concerns over the prospect of a US default prompted investors to buy precious metals as a haven from risk.Bitterly divided Republicans and Democrats are are scrambling to find common ground with less than a week before the government hits its borrowing limit, with chances of a quick resolution receding after a vote on a deficit plan by Republican Speaker John Boehner was pushed back to Thursday from Wednesday.
In the ever ongoing saga of the volatility of the precious metals market, gold jumped up in price again on Thursday and silver set another record for its highest price in 31 years.