Gold broke though the $700 a troy ounce barrier for the first time in 16 months yesterday, Friday, reported the UK's Financial Times. Spot gold in London reached $707.1 an ounce, its highest level since May 2006, before falling back slightly to $703.7, a rise of $8.5 on the day. Investors sought out gold as a safe haven after poor jobs data in the US impacted on the already weak dollar. [AMEInfo.com]



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Posted: 09|8|07 at 4:50 am. Filed under: News.