Gold hits record highs on risk aversion
Gold prices hit record highs above $1 250 an ounce in Europe on Tuesday and reached all-time peaks in a range of other currencies.
Gold prices hit record highs above $1 250 an ounce in Europe on Tuesday and reached all-time peaks in a range of other currencies as risk-averse investors bought the metal as a haven from volatility in other markets.
Spot gold hit a high of $1 251,05 an ounce and was bid at $1 247,95 an ounce at 9.37am GMT, against $1 238,05 late in New York on Monday. US gold futures for August delivery hit a record high $1 254,50, and were later up $10 at $1 250,80.
The precious metal also hit record highs in euro, sterling and Swiss franc terms.
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