Taylor BarnesMay 13, 2010 05:19Updated May 30, 2010 12:32
MUMBAI, India — The price of gold rose to its all-time high dollar value on Wednesday — more than $1,240 an ounce — which is more than triple what it was in 2001 when it started its climb.
What is India, the world's largest importer of the metal, to do?
India accounts for 20 percent of global demand. But skittish global investors throughout the recession have flocked to the metal as a safe asset when real estate and stocks tottered. Now, they are taking to it again on inflationary fears stoked by Europe's debt crisis, driving up the price.