Gold price, record high, economic uncertainty, precious metal, safe haven

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Gold price scores record high

Gold price, record high, economic uncertainty, precious metal, safe haven

LONDON, September 16, 2010 – The gold price touched a record high above $1,275 per ounce today, as nervousness in currency markets and economic uncertainty drove investors towards the precious metal as a safe haven.
Strong investment demand also pushed spot silver to $20.75 an ounce — its highest since March 2008.

Spot gold hit a record $1,277.70 an ounce earlier today.

The dollar eased against a basket of currencies, bolstering the case for bullion, with currency markets struggling to settle after Japan’s intervention to weaken the yen yesterday.

Analysts and traders are looking to $1,300 an ounce as a major psychological marker, with $1,350 seen as the next potential target.

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