Gold hits record high of nearly $1,235 per ounce

05/12/2010 | Reuters · MarketWatch · Reuters

An expert on precious metals called gold the "new reserve currency" as the price of spot gold hit $1,234.70 per ounce, a record high. "Gold will pull back as the safe-haven premium shrinks -- on days when stock markets rally, for instance -- but the trend is up for the foreseeable future," said Ed Bugos, director of mining finance at Strategic Metals Research & Capital.

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Reuters · MarketWatch · Reuters

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