Gold Price at Bursting Point
By: Newsroom Solutions
Updated: August 17, 2011
A major bank says gold prices have been pushed to the brink of bursting.
Wells Fargo & Company says speculative demand from investors has brought gold prices to where they are today.
Gold futures have gained 26 percent in 2011 with the price reaching a record one-thousand-817 dollars and 60 cents an ounce on August 11th.
Gold prices rose as debt problems increased both in the U.S. and in Europe.
Wells Fargo analysts point out they have seen the economic fallout from previous gold bubbles.
Wells Fargo & Company says speculative demand from investors has brought gold prices to where they are today.
Gold futures have gained 26 percent in 2011 with the price reaching a record one-thousand-817 dollars and 60 cents an ounce on August 11th.
Gold prices rose as debt problems increased both in the U.S. and in Europe.
Wells Fargo analysts point out they have seen the economic fallout from previous gold bubbles.
