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Gold soars above $1,600 per ounce for first time

AFP [1]
July 18, 2011

LONDON: The price of gold surged on Monday above $1,600 per ounce for the first time in history, as investors bought the safe-haven metal amid deepening worries over the eurozone debt crisis.

Gold jumped as high as $1,600.10 an ounce in early morning trading on the London Bullion Market, as the precious metal extended its recent record-breaking surge which began on Friday.

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