Gold hits new record peak near $1,800 on economic fears

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Gold prices hit a new record high near $1,800 per ounce on Wednesday, as global economy concerns and tumbling stock markets boosted demand for the safe-haven metal, traders said.

Gold rallied as high as $1,797 an ounce in late afternoon trading on the London Bullion Market, extended its recent record-breaking run.

© 2011 AFP

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