By Max Clarke
Gold prices have pushed past the $1,500 mark for the first time amid a global loss of confidence in the US dollar following Standard and Poor’s downgrading of the United State’s credit rating to from ‘stable’ to ‘negative’.
Analysts are differed in their predictions for its future price; with some predicting a contraction in the temporarily inflated prices, while others speculate prices will rise still further.
Gold has long been the world’s most stable investment, with investors purchasing the metal during times of widespread national debt, as in the case of Europe’s sovereign debt crisis and in the US’s continued spending deficit. Such recent global shocks have contributed to push the price up to record levels.