THE price of gold struck a record high above $1700 an ounce today with dealers flocking to the safe haven metal as Asian stocks tumbled following Standard & Poor's downgrade of US debt.
The price of gold reached $1,704.30 an ounce in Hong Kong trade.
"People are just taking their money out [of other markets], especially from the dollar and euro and investing in gold and the Japanese yen," a Tokyo-based trader said.
