Gold Prices Today Reach Record Levels

Gold prices today have risen to another record level, as investors flee to the safe haven to protect their assets in the midst of economic turmoil.

Another high was reached with euros, British pounds and Swiss francs, as gold denominated in those currencies exploded to record highs.

As of 12:15 P.M. today, gold rose to $1,241.40, a $10 gain. Gold surged even more in electronic trading yesterday when the markets closed, continuing its impetus today.

Concerns over the fall in value of the euro and economic slowdown in the region is a major factor in the rise in gold prices, along with the news that China will be even stronger in its fight against inflation, which could slow down demand for raw materials in that region as well.

Gold should be as strong as ever for some time as these scenarios play themselves out, which in the case of Europe, could be many years.