Gold hits record high as dollar plunges to historic low

03/3/2008 | CNBC

Gold hit a record high of $979.20 per ounce in Asia, prompted by a fall in the U.S. dollar and strong oil prices. "Gold has more room to rise considering that its pace of rise has been slower relative to other commodities," said Tatsuo Kageyama, an analyst at Kanetsu Asset Management. "Gold should reach $1,000 very soon."

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