SINGAPORE - Spot gold surged more than 1 per cent to hit a 28-year high above US$835 (S$1,217) an ounce on Wednesday after crude oil hit an all-time high around US$98 a barrel and the US dollar held near record lows against the euro.
Spot gold hit a high bid of US$835.90 an ounce, its best level since January 1980, before sliding to US$834.10/834.90 an ounce, still higher than US$820.90/821.70 late in New York on Tuesday.
The precious metal, which has risen more than 25 per cent this year, hit an all-time high of US$850 in January 1980. -- REUTERS
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