Wednesday, May 10, 2006

Gold rises above $700 to hit 25-year high

Reuters: Gold rises above $700 to hit 25-year high

Gold rose to a 25-year high above $700 an ounce on Wednesday, prompting some investors to take profits on bullion's sharp rally this year, while platinum surged to a record high on speculative buying.

Gold has risen around 35 percent this year as investors diversified into precious metals as a hedge against global tensions, including over Iran's nuclear ambitions, rising energy costs and uncertainty about the dollar's outlook.

Posted by Jason @ 06:58 AM (662 views)
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