Wednesday, January 2, 2008

Gold hits record high above $850 per ounce

LONDON (Reuters) - Spot gold hit a record high at $855.10 an ounce on Wednesday in buying fuelled by a struggling dollar, surging oil and simmering geo-political tensions, traders said.

The metal was quoted at $855.10 an ounce by 11:03 a.m. ET, compared with $832.70/833.50 quoted in New York late on Monday.

Spot gold was fixed in London at a high of $850 an ounce on January 21, 1980.

(Reporting by Veronica Brown and Atul Prakash; Editing by David Evans)

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