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Gold lifts to a new record as it approaches $3,300
Yesterday Gold managed to hold onto the $3,200 level, despite drifting back towards it later int he day. The metal based around $3,211 heading into the 3pm London fix. It later closed in the US at $3,230.72 and it has built on that close today. In fact, Gold has surged to a new record high a moment ago, as it pushes towards $3,300 for the first time ever. The driver for all this is a combination of lower stock markets this morning and a further fall in the dollar, especially versus the Yen. The new record high this morning has just been set at $3,291.81. The move back to gold and drive it to levels not seen before this morning is once again testament to its status as the ultimate haven from all risk. It looks likely the lead buyer in all this is coming out of Asia, but there is not doubt they are not alone right now. Gold is currently trading at $3,289.20
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