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News Link • Precious Metals

Gold Tops $1,500 on Outlook for Escalating U.S. Debt, Dollar

• Bloomberg

Gold futures rose to a record $1,500.50 an ounce as U.S. debt concerns weighed on the dollar, boosting demand for the precious metal as an alternative investment.

The greenback dropped against the euro on speculation that the European Central Bank will continue to raise borrowing costs as some nations struggle to contain sovereign debt. 

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