Gold prices topped a record $1,500 for the first time ever on Tuesday, shattering an important psychological barrier as investors seek out investments thought to be safe during times of upheaval.
Many investors see gold as the best place to park their money when there’s economic or policital uncertainty, and there has been plenty of that to go around.The price spike also comes against the backdrop of market uncertainty that has sent investors looking for an alternative to the weak U.S. dollar. And gold has been the marquee beneficiary.
On Monday, it was a dour outlook on U.S. debt that sent gold prices higher.
Standard & Poor’s lowered its outlook for America’s long-term debt to “negative” from “stable,” based on uncertainty surrounding the nation’s fiscal problems.
That’s exactly the type of news that creates a flight to safe haven assets like gold.
Gold futures for June delivery hit an intraday record of $1,500.50 an ounce near midday, before retreating to settle at $1,495.10 an ounce — also a new record.
The price of gold has tracked steadily higher in recent months, as a cavalcade of unsettling world events created uncertainty in global markets.
Since the start of the year, investors have been forced to consider the implications of a Japanese tsunami, earthquake and nuclear disaster. That’s in addition to a spike in crude prices and a slew of revolts in the Middle East and North Africa.
Inflation — which gold is often used to hedge against — has been rising sharply in emerging economies and is becoming more of an issue in Europe.
Gold and silver keep shining..
Carlos Sanchez, director of commodities management at New York-based CPM Group, said prices could go as high as $1,550 in the next couple weeks as investors focus on political gridlock in Washington.
The next major event for the gold market is the May deadline for the government to raise the debt ceiling, Sanchez said.
On Tuesday, silver prices were also on the rise. The understudy commodity settled at $43.75 an ounce — its highest level in three decades.
Of course, the records this week are not adjusted for inflation. Gold rose to $825.50 per ounce on Jan. 21, 1980, which is $2,211.65 in today’s dollars rate.
PEOPLE confirmed on Tuesday that the baby boy was actually born on March 9. The third child for Flowers and his wife Tana Mundkowsky, Henry Flowers joins his brothers Gunnar and Ammon in the happy family.After years of nonstop touring and a typically over-the-top schedule with the Killers, Flowers decided to pursue a solo career last year while his bandmates sought some well-deserved time off.
Having released his solo album, ‘Flamingo,’ in the fall, Flowers is now ready for some downtime himself. “Downtime” being a loose term here, of course, as Flowers wants to use the time to focus on being a good father.
“I love music but I want to spend more time with my children,” he told the Daily Mail back in September. “I’d like to be around when they start school.”
Vieira is apparently “beloved” by the ‘Today’ cast and crew, but a combination of long, tiring hours and personal struggles (her husband is battling multiple sclerosis and cancer) are likely the reason why she’d leave. Vieira would only sign a one-year deal when her contract expired last year, and has been open about her husband’s health problems.
However, NBC doesn’t want to see her go. “NBC is doing everything they can to convince her to stay,” an insider told TV Guide.
The former ‘View’ panelist joined Matt Lauer on ‘Today’ after Katie Couric left to anchor the CBS Evening News. Just yesterday, word came that Couric would step down from her post to host a daytime talk show when her contract is up in June.
NBC responded to TV Guide via statement, saying “The ‘Today’ show anchors are currently under contract and firmly in place.”
Sheryl Crow is a busy rock star and activist raising two boys as a single mother. When Crow battled breast cancer five years ago, she took that as a wake-up call to eat better. Around this time she met chef Chuck White, who taught Sheryl how to eat seasonal, vitamin-rich food that would boost her health and singing voice.
The two have now teamed up on a cookbook called ‘If It Makes You Healthy,’ which is brimming with delicious and nutritious recipes.
#How did you meet Chuck ??
I have worked with Chuck off and on for three years. He’s extraordinarily talented. We have this mutual love for incorporating the healthy components of food and the knowledge of wellness and disease with prevention and I wanted him to share what it is that he does. He had been on tour with me and cooked in my home while I had been recording.
#When you’re not touring or doing albums do you cook for yourself ??
For the most part when I’m home I cook for me and my kids. We sit down and eat meals. I cook the things I learned from Chuck. I’m always looking for healthy ways to feed my kids. My 10-month-old eats everything. Wyatt’s a little pickier. The one thing he loves is pasta and there are lots of different ways to make pasta with quinoa or spaghetti squash so he’s not just eating plain carbs. There’s always creative ways to feed kids.