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Flight to safety continues as gold remains in demand

The price of gold has today moved ahead yet further and now stands at $1275 an ounce with some investors looking towards $1350 in the short to medium term. It seems that the flight to safety continues with more and more investors concerned about the outlook for the worldwide economy and more than happy to place their funds in the gold market.

The ongoing interest in gold has also helped the silver market with silver now approaching $21 an ounce which is also a recent peak. A number of prominent players in the gold market believe that the US authorities will soon announce more fiscal stimulus programs which could include a similar type of quantitative easing program to that undertaken by the Bank of England last year. If this was to happen then a number of people believe it is highly likely that the rush to acquire gold could continue to push the price higher and higher.

Over the last few weeks it has become apparent that investors have turned against the worldwide economy believing that the worst is yet to come and are happy to look at more "stable" investments. However, the price of gold could quickly turn as and when the worldwide economy improves and prospects become a little better for the future.

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