Uncertainty about the recovery pushes gold higher as world leaders meet for economic talks
By APFriday, June 25, 2010
Gold prices marching toward record territory again
Gold prices are pushing back toward record territory amid lingering concerns about the global economic recovery.
Gold rose $10.30 to settle at $1,256.20 an ounce Friday. The record settlement high of $1,258.30 an ounce occurred a week ago.
Leaders of the 20 largest industrial and developing nations are meeting this weekend to discuss how to keep the recovery on track. Analysts say the uncertainty is prompting more investors to buy gold as a safe haven.
A weaker dollar also is lifting the prices of metals, energy and other commodities. Commodities are priced in dollars and tend to rise when the dollar weakens since that makes them cheaper for foreign investors.
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