Wednesday, the price of gold hit an all-time high, costing buyers over $1450 per ounce. Part of the reason for the rise in price is a fear of inflation, uncertainty about the situation in the Middle East, and the weakness of the U.S. dollar and the Euro. But another factor driving up the price of gold maybe its biggest buyers: India and China. Why is the price of gold so high, and who is buying? We learn more about gold and the current commodities market from Louise Story, Wall Street and finance reporter for The New York Times.
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