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Gold hits record high in Asian trade

Posted By admin On May 12, 2010 @ 4:05 am In Money Watch | Comments Disabled

AFP [1]
May 12, 2010

HONG KONG — Gold hit a record high of 1,235.50 US dollars an ounce by midday in Hong Kong Wednesday, as investors sought a safe-haven over deepening concerns about the eurozone debt crisis.

The precious metal closed in Asia on Tuesday at 1,209.00 dollars but later climbed as high as 1,224.82 dollars an ounce in European trade.

Analysts said the commodity was likely to maintain its safe haven role while other markets remained vulnerable.

It opened at 1,229.00, just up from a previous record of 1,226.56 dollars for the metal set on December 3 last year.

“The response of the central banks and the IMF to the southern European mess is almost guaranteed to ensure continued volatility in world markets,” said Capital Spreads analyst Simon Denham.

Full article here [1]

Gold hits record high in Asian trade 150410banner7 [2]


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URLs in this post:

[1] AFP: http://www.google.com/hostednews/afp/article/ALeqM5jGv3u7YT_5OXSG24FzBTO3saio4w

[2] Image: http://www.homegain.com/housead/homes_for_sale/index?entryid=11502

[3] Gold hits record high past $1,160 per ounce: http://www.prisonplanet.com/gold-hits-record-high-past-1160-per-ounce.html

[4] Gold hits record above $1,260 on safe haven demand: http://www.prisonplanet.com/gold-hits-record-above-1260-on-safe-haven-demand.html

[5] Gold hits new record above £1,265 an ounce: http://www.prisonplanet.com/gold-hits-new-record-above-1265-an-ounce.html

[6] Gold Hits Record High Above $1320: http://www.prisonplanet.com/gold-hits-record-high-above-1320.html

[7] Gold Hits Record High as Global Economic Uncertainty Continues: http://www.prisonplanet.com/gold-hits-record-high-as-global-economic-uncertainty-continues.html

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