Gold prices reach new heightsAugust 19, 2011 - 18:19 AMT PanARMENIAN.Net - Gold reached new heights Friday, August 19, soaring as high as $1,881 an ounce, as investors anxious about the uncertain global economy snapped up the precious metal. Stock markets in Europe and Asia continued a slide that began Thursday on disappointing economic news and worries about the strength of European banks. U.S. stock futures were down as well. Gold has been on a tear. It's up more than 25 percent since July 1. It has risen 7 percent this week alone. Fears of global recession are driving investors away from stocks and into assets viewed as safer. Morgan Stanley on Thursday joined other analysts and cut its global economic growth forecast for this year and next, saying that the U.S. and the 17 countries that use the euro were "hovering dangerously close to a recession." In morning trading, gold was up $36, or 2 percent, at $1,858 an ounce, the Associated Press reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |