Gold hits record above $1,225
Gold hit a record high over $1,225 an ounce on Thursday, exerting an irresistible pull on investors seeking an alternative to the dollar, despite a Chinese central bank official warning against a potential asset price bubble.
Gold could hit record highs above $1,600 per ounce later this year, driven by low interest rates and stubborn concerns over the eurozone debt crisis, metals consultancy GFMS forecast on Thursday.