Gold Futures Explode Upward as Portugal’s Sovereign Debt Rating Slashed by Moody’s (NYSE:MC)

Moody’s (NYSE:MC) did some surgery on the sovereign debt rating of Portugal today, taking the scalpel to the country by cutting the rating by two notches, reminding people the sovereign debt crisis in Europe remains, and is a threat to the global economy. Investors flocked to gold for safety, and gold prices today have already risen by $18.30, to $1,215.40. Portugal’s government bonds were cut

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Gold Futures Explode Upward as Portugal’s Sovereign Debt Rating Slashed by Moody’s (NYSE:MC)

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