Precious metal brokers applauded when the price for gold went above US$400 per ounce, according to the Wall Street Journal Americas.<\/p>\n\n\n\n\n
The financial publication said that “for the first time since August 1993, gold has broken through the US$400 barrier.”<\/p>\n\n\n\n\n
Brokers from a New York bank, even opened a bottle of Champagne to celebrate the event.<\/p>\n\n\n\n\n
“What really gave the gold market its final push, says the publication, was the stagnation of the budget negotiations in Washington.<\/p>\n\n\n\n\n
“It is obvious that the White House cannot control the government,” said Mr. Mr. Ian MacDonald, chief of the precious metal department of Credit Suisse in New York.<\/p>\n\n\n\n\n
He added that “with a stock market on a downward trend, there are very few alternatives for investors looking for a sure bet.”<\/p>\n\n\n\n\n
In London, gold bullion broke the US$400 barrier early on Wednesday, for the first time in two and one half years.<\/p>\n\n\n\n\n
“It is good news for the Dominican Republic,” said a former Director of Rosario Dominicana, the country’s state owned gold mine.<\/p>\n\n","protected":false},"excerpt":{"rendered":"
Precious metal brokers applauded when the price for gold went above US$400 per ounce, according to the Wall Street Journal Americas. The financial publication said that “for the first time since August 1993, gold has broken through the US$400 barrier.” Brokers from a New York bank, even opened a bottle of Champagne to celebrate the … <\/p>\n