Gold soars

The price of gold is hitting new record highs owing to the troubled US economy and a cocktail of other supportive factors, leading some analysts to predict $1000 per ounce could happen soon. In recent days the precious metal has blasted past $900 in a record-breaking run.

The price of gold is hitting new record highs owing to the troubled US economy and a cocktail of other supportive factors, leading some analysts to predict $1000 per ounce could happen soon. In recent days the precious metal has blasted past $900 in a record-breaking run.

Unprecedented demand for jewellery production in China and India, the weak US dollar, rising inflation due to high oil prices and fraught geopolitical concerns have sparked demand for precious metals - particularly gold. - AP

X