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article imageGold hits record high at $1,275.20, silver continues year-highs

By Andrew Moran     Sep 14, 2010 in Business
New York - Gold bullion has hit a record high in the morning's trading session by soaring $28.00 to $1,275.20USD. Financial analysts are speculating that gold could hit $1,300 by the end of the year.
According to CNBC’s tracking of the market, gold has hit an all-time record high of $1,274.10 during Tuesday morning’s trading session. Gold was priced at $1,247 when the market opened and shot up 2.17 percent, or $27.00.
Silver bullion also continues to stride upwards. Silver hit the $20 mark last week and during Tuesday’s mid-day trading session it stands at $20.55USD, which is up $0.34, or 1.68 percent.
Where is gold heading? Financial analysts, including GFMS chairman Philip Klapwijk, believe gold will comfortably stand above $1,300 before the year ends, reports the Sydney Morning Herald.
“I think we could easily see gold spike comfortably above $US1300 before the year's out,” said Klapwijk. “We'll probably get a fair bit of profit taking as we head into the New Year but I wouldn't take that as a sign that the party's over - further gains in 2011 are far from out of the question.”
During the time of producing this article, gold increased $3.00.
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