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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Gold Price Surpasses Platinum for First Time Since 2008

Gold Price Surpasses Platinum for First Time Since 2008

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Raala


Equity Analytic
Equity Analytic

GOLD PRICE NEWS – Sparked by fears over a global economic slowdown, the gold price reached a new all-time high of $1,780 per ounce early Tuesday morning. The price of gold has rallied over $100 in the past two days alone as investors poured funds into the yellow metal and liquidated cyclically-sensitive stocks and commodities.

However, in early afternoon trading the gold price surrendered a significant portion of its gains, sliding back down to $1,725 per ounce. Weakness in the gold price coincided with a rebound in the broader equity and commodities markets as risk aversion subsided.

Not only has the gold price posted yet another series of new record highs in recent days, but it has also surpassed the price of platinum for the first time since 2008. The platinum price rallied back toward $1,750 per ounce today after sinking as low as $1,707 early Tuesday morning.

http://www.goldalert.com/2011/08/gold-price-surpasses-platinum-for-first-time-since-2008/

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