LONDON, England - June 8, 2010 - The price of gold rose to an all-time high point above $1,250 an ounce on Tuesday, as investors nervous about the weak state of the global economy sought safety in the precious metal.

At about 09.25 GMT on the London Bullion Market, gold hit a record $1,251.85 an ounce.

"Gold rallied to a new all-time high this morning as worried investors continue to pile in to the precious metal," said Rajesh Patel, head trader at financial betting firm Spread Co.

"We are seeing continued signs of stress in the financial markets and investors, novice to expert, are looking at gold now as a hedge against further turmoil." Gold is viewed as a safe-haven investment in times of economic trouble.

BRUSSELS, Belgium - June 8, 2010 - Eurozone nations on Monday started setting up a massive bailout fund that could rescue any member of Europe's currency union from default, aiming to soothe market jitters that have sent the euro to a new four-month low against the dollar.

The "shock and awe" financial rescue package from the European Union and the International Monetary Fund will total euro750 billion ($1 trillion) - money that can be lent to any indebted eurozone nation risking default, and intended to counter investor fears that Spain, Portugal or others could follow Greece in requiring a bailout to meet debt repayments.

NEW YORK - June 7, 2010 - Having counted on Washington for money that may not be delivered, at least 30 states will have to close larger-than-anticipated shortfalls in the coming fiscal year unless Congress passes a six-month extension of increased federal spending on Medicaid.

Governors and state lawmakers, already facing some of the toughest budgets since the Great Depression, said the repercussions would extend far beyond health care, forcing them to make deep cuts to education, social services and public safety.

MADRID, Spain - June 7, 2010 - Spain's public sector strike against a government austerity plan on Tuesday will allow the country's unemployed to vent their frustration but the real test will come in response to labour reform to be unveiled this week. Tuesday's work stoppage and planned marches, called after the government rammed through a plan to shave 15 billion euros ($17.91 billion) off the budget with public sector cuts, is a shot across the government's bows before unions receive its draft of much-awaited labour reform on Wednesday.

Public sector workers face average wage cuts of 5% for this year and a freeze for 2011 as part of a plan to cut the budget deficit to 9.3% of gross domestic product this year, from 11.2% in 2009, and then to 6% in 2011.

Asian shares and the euro plummeted Monday as traders took their lead from a slumping Wall Street and worries that Hungary's public finances face a Greece-style meltdown.

LONDON, England - June 7, 2010 - Fresh fears for the global recovery were stoked after the United States released worse-than-expected jobs figures at the end of last week.

In Tokyo, the Nikkei tumbled 3.8% to 9,520.80. The Hang Seng index in Hong Kong closed 2.4% lower and shares in Sydney slumped 2.8%.

WASHINGTON - June 5, 2010 - If you lose your job these days, it's worth scrambling to find a new one - fast. After six months of unemployment, your chances of landing work dwindle.

The proportion of people jobless for six months or more has accelerated in the past year and now makes up 46% of the unemployed. That's the highest percentage on records dating to 1948. By late summer or early fall, they are expected to make up half of all jobless Amerikans.

Economists say those out of work for six months or more risk becoming less and less employable. Their skills can erode, their confidence falter, their contacts dry up. Their growing ranks also will keep pressure on Congress to keep extending jobless benefits, which now run for up to 99 weeks.

WASHINGTON - June 4, 2010 - Illegitimate President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economic output; a step toward what Bill Gross called a “debt super cycle.”

The Chart of the Day tracks U.S. gross domestic product (GDP) and the government’s total debt, which rose past $13 trillion for the first time this month. The amount owed will surpass GDP in 2012, based on forecasts by the International Monetary Fund. The lower panel shows U.S. annual GDP growth as tracked by the IMF, which projects the world’s largest economy to expand at a slower pace than the 3.2% average during the past five decades.