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Gold Hits Record High as Global Economic Uncertainty Continues

Posted By admin On August 19, 2011 @ 6:56 am In Featured Stories | Comments Disabled

Arirang [1]
August 19, 2011

The price of gold hit a record high on Friday, as investors are seeking safer assets amid deepening concerns over slowing economic growth and the outlook for euro zone banks.

Gold spot was up 2-and-a-half percent at 1,868 dollars 70 cents an ounce after peaking at 1,877 an ounce.

It is on track for its biggest one-month rise in nearly 12 years in August and is up 32 percent so far this year.

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[1] Arirang: http://www.arirang.co.kr/News/News_View.asp?nseq=119444&code=Ne4&category=3

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