Gold Hits Record High Above $850 Per Ounce

January 2nd, 2008 by GoldSilver | Posted in Economic News |

Spot gold hit a record high at $855.10 an ounce on Wednesday in buying fueled by a struggling dollar, surging oil and simmering geo-political tensions, traders said.

The metal was quoted at $855.10 an ounce by 11:03 a.m. ET, compared with $832.70/833.50 quoted in New York late on Monday. Spot gold was fixed in London at a high of $850 an ounce on January 21, 1980.

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