Gold soars to record high

by admin on August 23, 2011

New York – Investors flocked to gold last Friday, sending it to the latest in a series of records, as fears about recession in the world’s major economies infected financial markets.

The metal soared as high as US$1,881.40 (S$2,273) an ounce – adding to a jump of more than 15 per cent this month alone. In the same three weeks, the Standard & Poor’s 500-stock index in the United States has fallen about 12 per cent.

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