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  • Gold prices surge past $522 level

    12/09/2005 6:01:51 AM PST · by DebtAndDelusion · 228 replies · 2,602+ views
    BBC ^ | December 9, 2005 | London BBC
    The price of gold has continued to rise in Asian trading, climbing to its highest level since 1981. Gains came despite concerns that the market may be set for a correction and some analysts are now predicting that prices have even higher to go. Precious metals have been given a boost as investors look to protect themselves against higher inflation and weakening currencies such as the Japanese yen. Gold climbed as high as $522.70 an ounce, before falling back. It was hovering around the $521 mark during afternoon trading in Asia. 'Dizzy high' "There's some profit-taking now, but look at...