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Gold Hits New Record on Weaker Dollar, Inflation Concerns

Gold Hits New Record on Weaker Dollar, Inflation Concerns

Write: Schuyler [2011-05-20]

Gold futures on the COMEX Division of the New York Mercantile Exchange regain some momentum on Thursday and settled 2 U.S. dollars from its record, in response to the weaker U.S. dollar as well as rising inflationary expectations.

The most active gold contract for June delivery jumped 16.8 dollars, or 1.2 percent, to 1,472.4 dollars per ounce.