Looming Debt Crises Boost Gold Prices

Originally published on July 18, 2011 6:46 am
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MARY LOUISE KELLY, host:

NPR's business news starts with record gold prices.

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KELLY: There are debt crises and possible defaults looming on both sides of the Atlantic, and this has investors looking for safe places to park their money. Gold is always attractive when the going gets rough. So many investors are piling into the precious metal that prices have been rising for the last 10 days. Gold prices have now reached $1,600 an ounce. Transcript provided by NPR, Copyright NPR.