Gold

Gold Tops $1,500 on Outlook for Escalating U.S. Debt, Dollar

By Pham-Duy Nguyen - Apr 19, 2011 4:04 PM ET

Gold bars and coins are displayed at Goldcore Ltd., in London. Photographer: Chris Ratcliffe/Bloomberg

 

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April 19 (Bloomberg) -- Diane Swonk, chief economist at Mesirow Financial Inc., talks about the financial markets and U.S. economy. She speaks with Tom Keene on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg)

Gold futures rose to a record $1,500.50 an ounce as U.S. debt concerns weighed on the dollar, boosting demand for the precious metal as an alternative investment. Silver surged to a 1980 high. 

 

Police open fire as protesters step up campaign

Yemeni police have opened fire on protesters in the cities of Taiz and Sanaa, killing at least three. The UN Security Council was due to meet later Tuesday to discuss the crisis, which is in its third month.

By Helen PERCIVAL (video)
News Wires (text)

 

REUTERS - Yemeni police opened fire on protesters in Sanaa and Taiz on Tuesday, killing at least three people, as protesters tried to escalate their campaign to end President Ali Abdullah Saleh's 32-year rule.

CAIRO—Iran and Egypt's new government signaled Monday they were moving quickly to thaw decades of frosty relations, worrying the U.S., Israel and Saudi Arabia that the overtures could upset the Mideast's fragile balance of power.

Iran said it appointed an ambassador to Egypt for the first time since the two sides froze diplomatic relations more than three decades ago, the website of the Iranian government's official English-language channel, Press TV, reported late Monday.

Mn/DOT to test driver's 'mileage tax'

GOLDEN VALLEY, Minn. -- The Minnesota Department of Transportation is looking for 500 people to test technology that could someday be used to collect a mileage-based user fee.

Mn/DOT anticipates a fee on road usage might someday be necessary as more fuel efficient and hybrid cars are on the road, decreasing revenue from the gas tax.

"This research will provide important feedback from motorists about the effectiveness of using technology in a car or truck to gather mileage information," said Cory Johnson, project manager.

"We are researching alternative financing methods today that could be used 10 or 20 years from now when the number of fuel efficient and hybrid cars increase and no longer produce enough revenue from a gas tax to build and repair roads."