Investors Buying Gold to Offset Euro Value

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The price of gold is rising again. Stock prices surged Wednesday as the gold price climbed within striking distance of $1,400 per ounce on the news out of Europe - and on stronger than expected jobs data in America.

Investors are worried about a financial crisis in Europe, so they're buying more gold and driving the price to $1,390 an ounce.

The European Union's bailout of Ireland apparently hasn't calmed fears that other EU nations like Portugal and Spain could also run into economic trouble. The cost of bailing out those countries could bring down the value of the euro.

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