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China News, Gold, Silver, U.S. Debt

Asian investors stricken by gold fever on $1,617 record High Week Market Opening


SINGAPORE: Gold fever is gripping Asian investors and could spread to central banks as global growth uncertainties tarnish the appeal of other assets, putting bullion on course for more gains but also provoking fears about supply.

Spot gold surged more than $100 in 11 straight days to Tuesday, its longest winning streak in four decades, hitting a record $1,617.51 an ounce, as debt default fears in the US and Europe drove investors to seek safety.

Gold stayed above $1,600 las week as market watchers remained cautious about the debt situation on both sides of the Atlantic.

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