Gold soars to record above $1,700 on debt fears | Reuters

Gold soars to record above $1,700 on debt fears | Reuters: "Gold vaulted to record highs above $1,700 an ounce on Monday, surging nearly 3 percent as European Central Bank's buying of Italian and Spanish bonds failed to ease debt fears after Standard & Poor's cut the top-notch AAA credit rating of the United States."