Gold traded at record highs Thursday amid concerns ranging from Europe's debt crisis

Gold hits new high

Oil rises above $106 US

CBC News 

Posted: Mar 24, 2011 11:44 AM ET 

Last Updated: Mar 24, 2011 11:44 AM ET 

Read 1comments1

• Sharewith Add This
• Printthis story
• E-mailthis story

Gold traded at record highs Thursday amid concerns ranging from Europe's debt crisis and the effects of Japan's earthquake and tsunami on global production as well as turmoil in Libya and the Middle East

April bullion gained as much as $10.60 US, or 0.7 per cent, to $1,448.60 US an ounce in New York, surpassing its previous record of $1,445.70, set on March 7.

Late in the morning, it was trading at $1,446.50, up $8.50.

S&P/TSX global gold index 3-month chart

Oil, Canada's biggest single commodity export, also rose. April light sweet crude traded up 35 cents to $106.10 US a barrel, nearing its highest levels in almost 2 ½ years.

The Canadian dollar rose 0.76 of a cent to 102.73 cents US.

In Toronto, the S&P/TSX composite index added six points to 14,039, as commodities rose but traders kept one eye on ongoing serious challenges to the global economy, including Japan's struggle to contain an earthquake-spawned nuclear crisis, Portugal's unresolved financial problems and uprisings in the Middle East.

The S&P/TSX global gold index rose 0.68 per cent.

• Republish
• Report Typo
• Send Feedback
• Share
• Printthis story
• E-mailthis story

Comments (1)

Hide comments

Sort commentsby:Most recentFirst to lastHighest ratedMost activeGoDisplay:

• 5
• 10
• 25
• 50

comments per page

• NewsDog2011/03/24
  at 12:01 PM ETWow this is one of the only stories we are allowed to comment on today...
  
  Anyway: Gold will continue to rise becuase the finanial situation globally is still on going... its been going on for nearly 3 years now.... Debt issues are still there no matter what happens good or bad.... The fact is fiat currency policies have taken us to the point were many countries just cannot ever expect to pay back the debt... its a fact... Specially in the US.... European counrties are hitting the wall first just due to there small size... But the US will hit the wall at some point soon... Western countries gave up our monitary policy indipendance as soon as we gave power to private banks to create and regulate the money supply... In canada due to the ressesion we just had to borrow all the money that we paid down on the debt in the late 90's.. So we are just back to sqaure one again.... In regards to paying off canada's debt we just waisted the last 10 to 15 years.... GONE! And we are not any closer yet to restarting the debt paydown program... So if we start again in 2015 then when will our debt be repaid?..... 2035? 2050?.... My bet is that it will never be paid off and I am thinking that its been planned that way by those same private banks..... Canadian, US and Foreign(city of London).....
  
  I would love to see the day when we, Canada can take back the power of money creation and create our own debt free money that we can use for government spending.... (example is the "green back" in mid 1800's US)(its why Lincoln was shot)....