The price of an ounce of Gold has hit yet another record high today, breaking the $1500 an ounce barrier. Concerns over the global economic recovery and the ongoing Middle East unrest have contributed of Gold's performance of late, but market commentators are atrributing the very latest surge to S&P's downgrade of US sovereign debt on Monday. S&P, whilst re-affirming the AAA (highest) rating for the US did reduce their outlook from 'Stable' to 'Negative', which prompted a sharp slide in global markets. I expect Gold to continue to move higher over the course of this year, although the price may take a pause for breath after the latest upward movement.
