Sunday, July 24, 2011

Gold hits record as US deficit talks stall

Gold hit a record high above $1,620 an ounce on Monday, while the dollar steadied and Asian stocks slipped as investors piled into bullion over fears of a possible U.S. debt default as the debt ceiling talks in Washington stalled.

Spot gold, which has risen nearly 14 percent so far this year, climbed more than 1 percent to a record of $1,622.49 an ounce, before easing to $1,613.04 by 0301 GMT. U.S. gold also hit a record at $1,624.30. It was last quoted at


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