Getting your player ready...
NEW YORK — Gold’s reputation as a safe place sent it above $1,600 for the first time.
Investors are worried about debt problems on both sides of the Atlantic, so they bid gold up $12.30 an ounce Monday to settle at $1,602.40. That’s a record for the market price for gold but below its 1980 peak, after adjusting for inflation. An ounce of gold at that time cost $850, or about $2,400 in today’s dollars.
