Gold hits new record

NEW YORK: Gold extended its record-breaking run above the $1,100 mark while crude oil raised more than $2 a barrel as markets made a strong start to the new trading week. Gold hit a record at $1,110.85 a troy ounce, a rise of 26.5 per cent this year, before easing back to $1,107.00, up 1.1 per cent on the day as analysts digested the implications of India’’s decision last week to buy half of the gold the International Monetary Fund has put up for sale.

NEW YORK: Gold extended its record-breaking run above the $1,100 mark while crude oil raised more than $2 a barrel as markets made a strong start to the new trading week.

Gold hit a record at $1,110.85 a troy ounce, a rise of 26.5 per cent this year, before easing back to $1,107.00, up 1.1 per cent on the day as analysts digested the implications of India’’s decision last week to buy half of the gold the International Monetary Fund has put up for sale.