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Gold rises above $1 600/oz as debt fears simmer

Mining Weekly | July 18, 2011 | 12:33 pm Precious Metals Europe Gold

LONDON Gold prices rallied to record highs above $1 600 an ounce in Europe on Monday as investors spooked by the euro zone debt crisis and the threat of a US default bought into the metal as a haven from risk. Spot gold rose as high as $1 601.80 an ounce