Gold breaks above $4,650 as debt concerns drive demand

JUST IN: Gold has surpassed $4,650 per ounce for the first time since May.
Renewed demand comes as concerns around U.S. government debt intensify while the dollar weakens.
Both forces strengthen the hard-asset thesis: a weaker dollar mechanically supports dollar-denominated gold, while fiscal concerns can increase demand for assets viewed as stores of value outside sovereign debt.
The move puts gold back near the center of the currency-debasement trade.