Gold Prices Break Record Highs

America's deficit ceiling of gold prices on Monday, economic uncertainty, tough negotiations, EU sovereign debt concerns and the risk of contagion in the banking sector as a result of a powerful cocktail of a new high above $ 1,600 hit.

Taken alone, the U.S. debt ceiling to stand or walk for EU sovereign debt crisis will be enough to trigger a gold rally.Based on this, we believe the bullion rally is likely to continue until the solid progress made on sovereign debt issues have at least one relief.

European banks on Friday issued the results of a stress test.. By euro zone leaders in Brussels next week to discuss a massive bailout package in spite of the euro area is still very unstable and looks Italian and Spanish government bond yields have risen dramatically.

European credit crisis is definitely not going to go away.European banks crash and the interconnections within the global banking system, many non-European could banks may collapse as well.

Market attention now focuses on U.S. economic issues with emphasis on European Union issues of sovereign risk appears to decrease slightly. Congress by 2 August or government money to pay all your bills will increase U.S. borrowing limit of $ 14.3 trillion. Addressing how the White House and Republican spending cuts to bring down the deficit and high taxes are wrangling over.

Negotiations drag on the U.S. debt ceiling, and the support that they are able to sleep. If the agreement to raise the roof and a President "bending of rules" can cause failure in the U.S. in two weeks time to go into technical default and the psychologist's financial results can be overwhelming. One suspects that a compromise will be reached in the 11th hour, but the discussion continued beyond the deadline, the United States could be stripped of their credit rating is top notch.

Gold prices and investors and individuals who recognize this re-emerging as an international store will continue to buy gold bullion. It seems that in these times of tumultuous change, people around the world, banks are becoming less comfortable holding dollars and invest in gold.

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