Hong Kong gold hits record high

HONG KONG, September 17, 2010 (AFP) – The price of gold struck a record high above 1,280 US dollars an ounce in Hong Kong trade on Friday. Gold is seen as a safe haven investment and also a hedge against inflation. The precious metal rose to 1,280.20 US dollars an ounce in afternoon trading, after opening at 1,274.00-1,275.00 dollars.

It has marked up a series of record highs this week, hitting almost 1,278 dollars on Thursday.