Gold Touches Record, Set for Third Weekly Gain

Bloomberg reports that  a weaker dollar and debt concerns boosted precious metal’s appeal as an alternative investment.

The market news is quoted as saying,

“The weak dollar is having the most influence on gold at the moment,” said Chae Un Soo, a Seoul-based trader at Korea Exchange Bank Futures Co. “The market is getting more jittery now that we have sovereign-debt concerns about the U.S. in addition to Europe and the Middle East problems, which increasingly boosts safe-haven demand for gold.”

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