reaking News from The Globe and Mail
Gold prices rally to record
ATUL PRAKASH
Wednesday, January 02, 2008
NEW YORK — U.S. gold futures surged 3 per cent to hit a contract high as crude oil rose sharply and the U.S. dollar slid.
At 11:05 a.m. EST, the most-active gold for March delivery on the COMEX division of the New York Mercantile Exchange jumped $24.70 (U.S.) or 2.9 per cent to $862.70 an ounce.
Spot gold likewise hit a record high of $859.30, which surpassed its previous peak of $850 set in January 1980.
