Sept 8 – Daily Telegraph – Gold prices hit $1,000 an ounce for the first time in more than six months as investors sought out the precious metal’s appeal as a safe haven.

The gold contract for December delivery climbed to $1,004.70 on the Comex division of the New York Mercantile Exchange, according to Bloomberg. Gold for immediate delivery also breached the $1,000 mark,
climbing to $1,002.73 an ounce. The metal, which has gained 14pc so far this year and is on course for its ninth straight year of gains, is often bought by investors as hedge against the threat of inflation as well as a weaker dollar.

The latest figures show that investors are buying more gold. 222.4 tons of bullion were snapped up in the second quarter, 46pc higher than the same period in 2008, according to the World Gold Council.