2010.09.2006:14:00UTC+00Gold hits record high as investors seek safety

News

• Gold hit a record high for the fourth day in a row boosted by growing expectations for U.S. interest rates to remain exceptionally low as the economy struggles.
• Spot gold rose 0.3 pct to $1,280.20 an ounce by 0935 GMT, having hit a record peak of $1,283.35 earlier.
• U.S. gold futures for December delivery rose 0.3 pct to $1,281.70 an ounce.
• Spot gold prices have risen by more than 16 pct this year, driven by the desire among investors for a safe store of value in light of major currencies, equities and bonds becoming volatile.
• Silver prices, which have risen by 17 pct in the last five weeks alone, were less than 1.5 pct below their highest level in nearly 30 years on Monday.
• Spot silver rose 0.5 pc to $20.87 an ounce, after reaching $20.99 on Friday.