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SAN FRANCISCO (MarketWatch) — Gold futures finished at a record high Friday to score a gain of 3.2% for the week, as lingering concerns over the potential for U.S. and euro-zone debt defaults helped prices tally a nine-session gain of nearly $108 an ounce.
Prices, which have climbed $107.50 since they closed at $1,482.60 on July 1, marked a fresh record settlement price.
Gold has hit a string of record high levels this week, as the possibility of more stimulus being pumped into the U.S. economy and global debt worries supported buying.
Prices, however, remain well below the previous record high for gold in real terms of around $2,400 on Jan. 18, 1980, according to a research note from Capital Economics.