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Gold price breaks through $1,500-an-ounce barrier | Business | The Guardian
Gold price breaks through $1,500-an-ounce barrier
Gold hits new record price as global economic fears push investors into seeking safe haven
Gold is fetching a record $1,500-an-ounce barrier, underpinned by a weak dollar. Photograph: Sebastian Derungs/AFP/Getty Images
Gold price breaks through $1,500-an-ounce barrier | Business | The Guardian
Gold price breaks through $1,500-an-ounce barrier
Gold hits new record price as global economic fears push investors into seeking safe haven
- guardian.co.uk, Wednesday 20 April 2011 07.44 BST
Gold is fetching a record $1,500-an-ounce barrier, underpinned by a weak dollar. Photograph: Sebastian Derungs/AFP/Getty Images
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Gold breached $1,500 per ounce for the first time on Wednesday and is expected to hit $2,000 by the end of next year as a perfect storm of concerns about inflation, debt, the US dollar and unrest in the Middle East pushes up precious metals.
The price of gold up 27% in the past 12 months and 50% in over three years is expected to continue to rise for at least another year to 18 months, as investors carry on shunning risk in favour of so-called safe haven assets.
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