19 Aug '11, 1am

Gold hits latest record high, near S$2,229

Gold hits latest record high, near S$2,229

The price of gold hit its latest record high, near US$1,830 (S$2,229) an ounce, as investors spooked by the prospect of a return to recession sought out safety on Thursday in the precious metal. -- PHOTO: AP NEW YORK (AP) - The price of gold hit its latest record high, near US$1,830 (S$2,229) an ounce, as investors spooked by the prospect of a return to recession sought out safety on Thursday in the precious metal. Gold prices have more than doubled since the recession began in late 2007. They've risen about 19 per cent since the beginning of June, as European leaders struggled to keep the debt crisis from infecting the region's major economies and US politicians nearly drove the country to the brink of default, prompting Standard & Poor's to cut the country's AAA credit rating. Morgan Stanley on Thursday cut its forecast for global economic growth for this year and 2012, ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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