GFMS

Gold Hits Record of $1,308.90 After Price Drop

Gold prices reached a record $1,308.90 an ounce Tuesday after earlier price declines and continued low interest rates spurred investors to buy bullion. Gold, which earlier had its biggest intraday decrease in more than two months, reached a record high for the eighth time in two weeks.

Gold Reaches Record High, Could Hit $1,300 This Year

Gold prices hit a record high Tuesday and may reach a record $1,300 an ounce later this year as investors fearing debt crises and potential inflation from interest rate cuts may put more of their money into the precious metal.