3
December
Gold marks record highs, tops $1,220/oz ninemsn
3 December 2009 MSN
Gold hit a record high over $1,225 an ounce on Thursday, exerting an irresistible pull on investors seeking an alternative to the dollar, despite a Chinese central bank official warning against a potential asset price bubble.
Gold has risen by more than 7 percent since touching a low of $1,136.80 last Friday on now-waning fears that the Middle Eastern emirate Dubai might default on its debt, which spurred investors to sell the metal to raise cash to cover losses.
