April 8, 2011 1:07 PM

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Gold surges to record high, silver hits 31-year peak

Gold struck another record high in the global markets, today, as the dollar weakened against the euro, while silver hit a fresh 31-year high, after ETF holdings jumped to an all time high, on inflation worries driven by a surge in crude oil prices. Spot gold rose to a new all-time record of 1,466 dollars an ounce. U.S. gold futures for June crossed 1,467 dollars an ounce, also a record high. And spot silver hit an intra-day peak of 39.97 dollars an ounce, its strongest since 1980, as rising oil prices boosted its appeal as a hedge against inflation, and a cheaper alternative to bullion.

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