Gold hits new record at $1,300

On Monday, Gold powered to an all-time high at $1,300 an ounce as worries about the health of the global economy spurred buying, with top consumer India also defying high prices during the festive season.

The press release is quoted as saying:

Spot gold added $3.25 an ounce at $1,298.85 by 2:58 a.m. ET, after rising as high as $1,300. Gold has gained on a weaker dollar and economic uncertainty after the Federal Reserve raised expectations of new measures to stimulate growth.

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