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Gold price tops $1,700 as investors seek refuge

The price of gold streaked past $1,700 an ounce for the first time Monday. Investors, beset by worries about the U.S. debt downgrade, Europe's financial crisis and slowing global growth, sought safety in the metal as stocks tumbled around the world.

 

Stocks and Gold Gain as Investors Shun the Dollar

Shares rose ahead of the start of earnings season, and the value of the dollar skidded as investors fretted over a report that crude oil could one day be priced in other currencies.

 

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