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Gold Hits Record High as Global Economic Uncertainty Continues
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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