The spot price of gold set a new record on Aug. 2, hitting
the $1,640-an-ounce mark.
The gold price also set a record last week, hitting
$1,633.
At press time, the price had settled down a bit to $1,639.
Gold’s continued rise contradicts the views
of some market watchers, who thought the resolution of the U.S. debt crisis
would temporarily depress the price of gold. But analysts said continued doubts about the American
economy were enough to fuel the rise.
The gold price
first crossed the $1,600 mark on July 18.
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