NEW YORK (CNNMoney.com) — Gold prices touched the $1,000 milestone for the first time ever Thursday as the dollar plunged and amid fears about the health of the U.S. economy.
After weeks of flirting with the key psychological mark, COMEX gold for April climbed to $1,000 an ounce in floor trading. Prices have since pared their gains and were most recently up $16.60 to $997.10 an ounce.
Sending prices higher were concerns about the U.S. economy and another drop in the dollar, which hit a 12-year low against the yen and scaled another record low versus the euro.
Historically, gold has been considered a safe haven for investors worried about inflation or the economy.
—–Editor’s Note: Trade your dollars for real assets as quickly as possible. Dollar weakness combined with the 15% drop in the Nasdaq/S&P in recent months should be motivating factors to do so.
Dan Kiley is a Realtor in Whitefish, MT specializing in Revenue-Producing properties, 1031 Exchange, Luxury, Condo, and Land Investments
