The post you are reporting:
interesting stuff, gold has been mentioned this from the telegraph today.
Gold tipped above $1,600 an ounce in Europe on Monday as investors spooked by the eurozone debt crisis and the threat of a US default piled into the metal as a safe haven from risk.
Gold is traditionally seen as a safe haven in times of risk.
The spot price reached an all-time high of $1,603.40 at 12.50pm in London, as Italian and Spanish ten year bond yields also ticked-up back towards levels that forced Greece, Ireland and Portugal to ask for help.
Italian and Spanish 10-year bond yields climbed above 6pc, edging closer to the 7pc mark that prompted its smaller euro partners to seek bailouts.
"If we reach 7pc on Spain and Italy, we are probably approaching very quickly the point of no return," Nicola Marinelli, a London-based fund manager at Glendevon King Asset Management, told Bloomberg.
Scepticism over the latest round of bank 'stress tests' and uncertainty amid a deepening eurozone debt crisis also saw european markets fall, as banking heavyweight Royal Bank of Scotland shed more than 5pc.
City analysts and investors said on Friday that the criteria used in the latest report released by the European Banking Authority (EBA) on Friday were overly optimistic, and omitted the possible impact of a Greek default on the eurozone