Gold rose to all-time high above $1,715 per ounce extending its bull run as a safe haven asset and investors sold off other commodities from oil to grains after the US loss of its prized AAA credit rating stoked fears about economic growth.
The US lost its top-tier AAA credit rating from Standard & Poor's on Friday, hours after investors alarmed by the euro zone debt crisis forced Italy to speed up an austerity drive.
In a sign of how concerned world leaders are about a s
The US lost its top-notch AAA credit rating from Standard & Poor's on Friday in an unprecedented reversal of fortune for the world's largest economy.
S&P cut the long-term US credit rating by one notch to AA-plus on concerns about
The United States had its triple-A rating confirmed by two key ratings agencies on Tuesday after Washington struck a last-minute deal to avoid a debt default, but threats of future downgrades remain.
Moody's Investors Service and Fitch Rat
Brent crude slipped on Friday after Standard & Poor's warned it may lower the credit rating of top consumer the United States, capping a volatile week marked by concern about the country's deficit and the euro zone's debt.