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Gold hits new record high, passes $1,900 an ounce
Business digest: Safe haven commodity continues to gain value at prospect of QE3 in US
Gold has hit a new record high of $1,913.50 an ounce in Asian trading, as continuing fears over the state of the global economy made gold an increasingly attractive safe haven commodity.
Analysts said the rise in the commodity's value would continue until there were signs that national economies were starting to recover.
The demand for gold was further driven by the prospect that more quantitative easing, QE3, would be announced by US central bank governor Ben Bernanke later this week.
Such stimulus measures will further devalue the American dollar, which in turn will make gold more valuable.
Read a full report at BBC News. ·
