Foreclosures Double as Gold hits 28-Year High

The slow-motion house crash shows no sign of slowing as foreclosures doubled from one year ago. The rot is far from cleared out.

Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure, a real estate information company said Thursday.

A weak dollar and credit market fears have cause traders to see safety in gold :

Dealers and analysts said that fund buyers, seeking safe stores for their cash due to continuing unease over problems in credit markets, had the bit between their teeth and would eventually targeting a record high above $800.