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Gold hits record above $1160 on inflation worries

Published on Mon, Nov 23, 2009 at 08:52   |  Updated at Mon, Nov 23, 2009 at 09:20  |  Source : Reuters
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Gold powered to another record above USD 1,160 an ounce on Monday as growing worries about inflation and global economic uncertainty offset a rebound in the US dollar.

Cash gold jumped as high as USD 1,161.80 an ounce in thin trade due to the absence of Japanese speculators, while US COMEX December gold futures hit an intraday high of USD 1,162.50.

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