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(Image from article: "Wall Street Steadily, Calmly Moves Higher")

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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.

 

Wall Street Steadily, Calmly Moves Higher

Wall Street Steadily, Calmly Moves Higher

Shares rose in Europe and on Wall Street as markets calmed. Gold, however, hit a record amid efforts to defend European countries from sovereign default.

 

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