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 Gold hits record high of $1,900

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Gold hits record high of $1,900 Vide
PostSubject: Gold hits record high of $1,900    Gold hits record high of $1,900 Icon_minitimeTue Aug 23, 2011 3:46 am
The price of gold has risen above the $1,900 an ounce mark for the first time on growing concerns about a slowdown in the global economy.

The precious metal rose 0.9% to $1,913.50 an ounce in Asian trade.

Gold hits record high of $1,900 _54761511_gold

Fears of a slowdown in the US and the debt crisis in Europe have spurred demand for gold which is seen as a safe investment in times of uncertainty.

Analysts said that with further US monetary stimulus looking likely, gold prices could rise even further.

"For the time being investors are happy looking at gold as safe haven in these troubled times, and will continue to do so until we see something positive and sustainable." said Darren Heathcote of Investec Australia.

http://www.bbc.co.uk/news/business-14625918
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