Gold shot up above $1,500 an ounce
Gold shot up above $1,500 an ounce on Wednesday for the first time ever as worries over the health of the global economy boosted the metal as a safe haven. Spot gold hit a high of $1,505.21 an ounce and was bid at $1,505.16 an ounce at 5:42 a.m. ET, against $1,493.90 late in New York on Tuesday. U.S. gold futures for June delivery rose $10.60 an ounce to $1,505.70. Silver tracked gold higher, extending a stellar performance that has seen the grey metal outperform other precious metals this year. Silver hit a 31-year high at $44.56 an ounce and was later bid at $44.51 against $43.89. Gold prices are up 5 percent in April and look set to extend gains as the metal's appeal as a haven from risk was boosted by talk that Greece may have to restructure its debt and Standard & Poor's threat to downgrade America's triple-A credit rating. "There is still going to be a lot of uncertainty over the strength of growth, in the United States in particular," said Macquarie ana...