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Gold rushes to record high above $1,090/oz

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Wednesday, Nov 4th, 2009

Spot gold ran to a record high above $1,090 per ounce on Wednesday, latching on to a weaker dollar with continued support from the IMF’s sale of gold to India’s central bank.

The dollar index declined 0.34 percent as investors awaited a Fed statement later on Wednesday.

Spot gold hit a record high of $1,092.60 an ounce and was bid at $1,091.05 an ounce at 0915 GMT, compared with $1,084.50 late in New York on Tuesday.

U.S. COMEX gold futures also hit an historic $1,093.70 in electronic trade, and were later up $7.40 at $1,092.40.

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This article was posted: Wednesday, November 4, 2009 at 4:53 am

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