Gold broke out to a new all-time high early Wednesday morning, touching $1,578.70 per ounce. Investment demand for gold has soared in recent days on worries over Europe’s sovereign debt crisis and fresh concerns over the stability of the economic recovery in the U.S.
While these lingering issues have powered gold, the catalyst sending gold to a new record was the news – revealed in the release of the Fed Minutes yesterday – that QE3 was being considered.
Stocks rose across the globe for the first time in four days today and the euro rallied against the U.S. dollar. S&P 500 stock futures, up 6.30 to 1317.00, pointed to a higher open on Wall Street.
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