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Friday, November 06, 2009
Gold Hits $1,100 An Ounce As Unemployment Worsens
By Moming Zhou
MarketWatch Pulse
NEW YORK -- Gold futures rose to a new record high of $1,100 an ounce Friday after data showed the U.S. unemployment rate topped 10% in October, raising the metal's appeal as a safe asset. Gold for November delivery gained 1% to $1,100 an ounce on the Comex division of the New York Mercantile Exchange, the highest level for a front-month contract. The more actively traded December contract rose to $1,101.90 an ounce.
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