The price of gold hit a record high above 1,100 dollars an ounce in trading here on Friday following a report that Sri Lanka had joined India in purchasing the precious metal in favour of the US currency.
Gold price tops $1,100 for first time
The price of gold hit a record high above 1,100 dollars an ounce in trading here on Friday following a report that Sri Lanka had joined India in purchasing the precious metal in favour of the US currency.
"The Central Bank of Sri Lanka has announced that it is buying gold to diversify its reserves," industry body the World Gold Council said in a statement issued before gold struck a record high of 1,101.42 dollars.
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