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International Business Times
International Business Times
Business

Gold Hits High, Stocks Retreat As Investors Seek Safety

Gold reached $3,501.59 an ounce during early trading in Asia, soaring past its previous record of $3,500.10 in April (Credit: AFP)

The price of gold struck a record high above $3,500 an ounce Tuesday while stock markets mostly retreated as investors sought safety on global economy concerns.

The dollar rallied against the euro and British pound as French and UK government borrowing costs hit multi-year highs.

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