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Gold prices up as shares fall
Gold prices jumped more than 4% today as investors scrambled for safe havens amid the latest shares meltdown.
The precious metal jumped $38.5 to $925 (£545) an ounce on commodity markets as panicky investors switched funds from shares and even bank accounts to try and protect their funds. There has also been heavy demand for rock-solid Government-guaranteed Treasury stocks.
In another reflection of gold’s immediate attractiveness, gold mining projects firm Randgold Resources was one of the London stock market’s handful of winners today. Its shares were up 3%.
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