Gold hits record high of $1,503.26 - KWWL - Eastern Iowa Breaking News, Weather, Closings

Gold hits record high of $1,503.26


Are you worried about the economy?  More and more people are, and one big indicator of that fear is the price of gold.  It's in record territory.

Gold closed this week at $1,503.26 cents an ounce.  The main thing driving it up is the fear that the U.S. dollar will dive.

"The dollar is much weaker but it stands a good chance of getting much weaker from where we are," said Richard Hastings with Global Hunter Securities.

Buying bullion is easier than ever.  In Florida, people can go to AGMs or automatic gold machines.  One in Las Vegas takes cash and offers gold bars or coins.  People are betting against the dollar in this case.

However, so far this year, stocks are beating gold as an investment.

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