Gold could hit record highs above $1,600:
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.
Gold hit a record high above $1,000 an ounce on Thursday and oil reached an all-time peak over $110 a barrel as a historically weak dollar and falling equities triggered a flight to commodity markets.