Gold hits record high over US debt concerns

Gold prices top record $1,600

NEW YORK (CNNMoney) — Gold prices broke a new record Monday, topping $1,600 an ounce, driven by concerns over mounting debt in the United States and Europe.

Gold futures for August delivery settled at a new high of $1,602.40 per ounce. Earlier in the session, gold touched a fresh intraday high of $1,607.90 per ounce.


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