Gold Rises to a Record 1245$ per Ounce

Gold Rises to a Record 1245$ per Ounce GM is recalling close to one and a half million vehicles because of a potential fire hazard. The problem involves heated windshield, wiper fluid systems in SUV’s, pickup trucks, and cars it makes including Buick, Cadillac, Chevrolet, GMC, Hummer and Saturn. The vehicles impacted are from the 2006 to 2009 model years. Gold jewelry is about to get more expensive. Recession fears pushed the price of gold to a record $1245.00 an ounce. On Wall Street, the Dow snapped its two-day losing streak rising 123 points, the NASDAQ composite off three. BP is putting some unemployed people in the south to work. The oil giant has gathered about 4500 people in Alabama, Mississippi and Florida to be ready on short notice to clean the Gulf Coast beaches. They will be paid $18.00 an hour. The 23 Gulf Coast Counties stand to lose nearly 200,000 jobs and about 11 billion in tourism spending because of the oil disaster. McDonalds extended its winning streak in May, sales rose about 5% globally but McDonald’s full year profit will take a hit because of the weak Euro which accounts for about 25% of its operating income. For more Money News, stay with CBS MoneyWatch.com. In New York, I’m Alexis Christoforous.