Gold passes 1,400-dollar mark for first time

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Gold passed the 1,400-dollar per ounce mark on Monday for the first time in a buoyant market boosted by speculative investors, reaching a new all-time high of 1,403.88 dollars at 1720 GMT.

The gold price was driven up by the Federal Reserve's decision last week to carry out a 600-billion-dollar monetary stimulus measure aimed at reviving the US economy, a move seen in some circles as liable to aggravate inflation.

© 2010 AFP

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