Gold futures surged toward record highs Thursday as the stock market and the U.S. economy continued to flounder, leaving investors seeking a safe haven in hard assets. Gold for August delivery rose $14.40, or 1.2%, to $1,245 an ounce on the Comex division of the New York Mercantile Exchange.
A weaker dollar was a contributing factor, with the ICE Futures U.S. Dollar Index down 0.4%, its lowest level in almost four weeks, and the euro up 0.6% against the dollar. (more)
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