| Updated:
Gold hits record highs
Gold hit record highs of more than $1,225 an ounce yesterday as it continued to attract investors looking for an alternative to the dollar.
The precious metal has risen by more than seven per cent since touching a low of $1,136.80 last Friday on fears of a possible default on debt in Dubai, which spurred investors to sell the precious metal to raise cash to cover losses.
Analysts say worries about Dubai’s loan payment problems still linger, but have been pushed to the backburner.