04 Aug '11, 4am

No end to gold rush as precious metals prices spike - TODAYonline

Gold hit a record for a second straight day on Wednesday, powered by deepening fears over the spread of the euro zone debt crisis. Spot gold was last quoted at US$1,668.06 an ounce, up 0.5 per cent on the day, having hit a record US$1,672.65 earlier. US gold futures were last up 1.6 per cent at US$1,671.00 an ounce. "The current fundamentals in the gold market are supportive of these higher prices. Concerns about sovereign debt burdens, the long-term value of certain reserve currencies and fear of persistent inflation are likely to continue for the foreseeable future," said Mr Tom Holl, co-manager of the BlackRock World Resources Fund. Millet Enriquez

Full article: http://www.todayonline.com/Business/EDC110804-0000395/No-...

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