Gold Hits record High On Debt Default Fears

kelly
July 17, 2011 04:56 PM

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(Reuters) - Gold touched a record high on Monday, reflecting persistent worries about the euro zone debt crisis spreading and a growing threat of a U.S. government default.

Spot gold rose to an all-time peak of $1,598.41 and U.S. gold also hit a record high of $1,599.20.

Gold surged to an all-time high of $1,594 an ounce in London, lifting silver to $39 in its train.