Gold prices rose above the $1,000 a troy ounce mark on Friday as investors shunned risky assets for the relative safety of bullion amid renewed fears about the health of the global financial system.
“Gold investors hear ‘trillions and trillions’ and ‘bail-out after bail-out’ and look at gold as the only asset which remains good for capital preservation,” said Tom Pawlicki of MF Global, the commodities broker in Chicago.
