TG:Gold soars, U.S. dollar sinks on debt wrangling
Gold soared to a record high for the sixth time in two weeks on Wednesday and the U.S. dollar collapsed to another record low against the Swiss franc as investors sought safety from a possible U.S. debt default.
Equities were weaker globally, particularly in Europe.
Bitterly partisan wrangling in Washington over raising the U.S. debt limit is unnerving investors, who are facing what many thought to be inconceivable – the United States unable to pay its debts and being downgraded as a borrower.
