WINDERMERE, Fla. ( Stockpickr) -- Gold is hitting a record high above $1,580 an ounce in early trading Wednesday, with market players fearing that the worst could still be in store for the eurozone debt crisis.Traders are concerned that a major debt default could occur at any time out of Greece, Spain, Italy, Portugal or Ireland. The big fear is that Italy could be in serious trouble, and a default there would be catastrophic because many analysts believe that Italy is too big to fail or that there just isn't enough money to in Europe to bail the country out. Remember, Italy doesn't have a printing press like the U.S. does through our Federal Reserve.
5 Gold Miners to Benefit From QE3
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts