WELLINGTON (Dow Jones)--The gold price juggernaut pushed still higher in the Asian session Thursday after touching a fresh record Wednesday, as a slowing pace of global economic recovery and concerns over European debt troubles kept investor attention focused on safer assets. At 0351 GMT, spot gold was trading at $1,666.10 a troy ounce, up $5 from its previous close, off an intraday high of $1,669.24/oz in early Asian trade. The yellow metal hit a fresh high of $1,673.19/oz Wednesday. "For now it seems that investors are undeterred by higher prices, as gold's safe-haven properties provide comfort in the midst of uncertainty," Phillip Futures investment analyst Ong Yi Ling said. Manufacturing data from China, Europe and the U.S. suggest slowing growth, while market participants are alarmed over bond markets in debt-laden Italy and Spain. Investors are also turning cautious as the U.S. still faces the possibility of a downgrade of its credit rating despite reaching a deal to raise the debt ceiling. Analysts said gold prices have been underpinned by growing uncertainty and have rallied against most currencies in the past few weeks, due to risk aversion and investors losing confidence in major currencies. "Gold's high-altitude flight still appears to be supported by many factors and an end to the boom soon is not in sight," said Commerzbank in a note. Traders said the yellow metal is likely to hit new highs in the near term on economic worries and sustained safe-haven buying. Central-bank gold purchases aimed at diversifying their reserves have been "another piece of bullish news," and central banks will likely "remain gold-friendly and continue their acquisitions of gold this year," Ong said. Russia, Mexico, Greece, Korea and Thailand have made substantial gold purchases this year. Commerzbank said central banks worldwide bought 155 tons of gold in the first five months of the year, 15% of global mined output in the same period. Besides central banks, inflows into gold exchange traded funds have risen sharply. Commerzbank said the world's largest gold ETF--SPDR Gold Trust (GLD)--registered inflows of 18 tons Wednesday. Traders and analysts said gold could also move higher if U.S. non-farm payrolls, a key indicator of the health of economy, surprise on the downside Friday. At 0351 GMT, silver was at $41.79/oz, up 6 cents, while platinum was at $1,768/oz, down $11 and palladium at $792/oz, down $2. -By Arpan Mukherjee, Dow Jones Newswires; 64-4-471-5990; arpan.mukherjee@dowjones.com

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