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Gold powered to a record high today as the weak dollar enticed traders to the precious metal. It hit $1048.20 an ounce before easing slightly. Analysts said it could climb to $1100 before long.
“Gold reaching an all-time high is attracting new investment,” said Eugen Weinberg of Commerzbank. “This momentum can take us to even $1100 an ounce. As long as we don't see a sustainable rally in the dollar, I don't think it will stop.”
