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Gold Price Increase Rapidly

The price of gold soared to a record peak above 1070 dollars per ounce in London, Wednesday (14/10). Strengthening gold price occurred as the dollar slid against the European single currency, the euro.

On the London Bullion Market, gold reached 1070.80 dollars per ounce, which is the highest level in history. As quoted by AFP, the latest peak reached for the euro surged above 1.49 dollars for the first time since August 2008.

In the last few days, gold has enjoyed a record-breaking because of falling dollar has stimulated demand. The waning U.S. dollar makes precious metals cheaper for investors holding other currencies. Gold is usually used in jewelry, dentistry, and electronics.

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