Gold Prices Reach a New Record Above $880 (AP) (09-01-2008)

NEW YORK (AP) – Gold continues to appeal to investors as a safe-haven investment carrying its price to record levels.

Gold futures jumped to $880 on Tuesday to their highest level ever, as rising oil prices and a weak U.S. dollar added to the pressure. An ounce of gold for February delivery climbed as high as $884 on the New York Mercantile Exchange, topping by almost $10 its previous record of $875 set in 1980, and later settled at $880.30, up $18.30.

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