Gold prices didn't hit a record high today, but they did close at a record high, as the yellow metal gained $18.20 on the day to close at $1,248.70 an ounce, up from the June 8 record close of $1,245.60 an ounce.
Most of this is the result of continuing bad economic news, including plunges in new housing starts, increasing unemployment and the continuing European Union sovereign debt crisis which is far from over.
Data from the Philadelphia Federal Reserve's index of regional manufacturing plunged so far that some economic news outlets didn't even release the amount it dropped and how far it was below analysts' expectations.
The reading came in at only 8.0 for June, down from the 20 looked for by analysts, and down further from the 21.4 reading in May.
This is the lowest level of manufacturing growth in 10 months for the region, which includes Delaware, southern New Jersey and eastern Pennsylvania.
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