Gold poised for new record highs

On Thursday, Gold steadied, but analysts expect the precious metal to extend gains to new records over coming days as waves of investor money come flooding into the market looking for safety.

The press release is quoted as saying:

Spot gold was bid at $1,238.35 a troy ounce at 1511 GMT (11:11 a.m. EDT) from $1,236.35 an ounce late in New York on Wednesday, when it hit a record $1,248.15 on fears that a $1 trillion European rescue package will not solve the euro zone debt crisis.

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