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Gold still glittering

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Gold still glittering

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Gold prices continue to rise, hitting record highs on the spot and futures markets at one stage rising above $1,048 an ounce.

Traders said there had been fresh investment in the precious metal because the dollar had fallen against a basket of major currencies Bullion prices later fell back a bit as the dollar stabilised and global stocks slipped. The price of gold is up nearly 20 percent so far this year in response to the weak dollar and as a hedge against future inflation.