Gold is continuing its historic rise on Monday, with the commodity jumping to a new record high for a fifth straight trading day on prospects of a weaker dollar.
Spot gold traded as high as $1,476.21 an ounce early this morning, with some analysts expecting the $1,500 mark to be eclipsed soon.
According to a Reuters report, "Heightened inflationary threats despite interest hikes by China and the European Central Bank boosted gold's safe haven appeal, while silver also attracted buying from investors looking for a cheaper alternative to bullion. The gold-to-silver ratio was at a 28-year low around 35."
Gold has gained more than 10% since late January, with many investors citing ongoing Middle East conflict, economic unease in Europe, and fallout from the U.S.
(Source: http://www.commoditiesmansion.com/news-flash/gold-continues-to-hit-new-record-highs-gld/)
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