Gold hits record in sterling term on weak currency

SINGAPORE (BestGrowthStock) – Sterling-priced gold hit record highs above 738 pounds an ounce on Monday as the British currency tumbled to a nine-month low against the dollar.

Sterling also fell to its lowest in a year against the yen, dropping to as low as 134.50 yen, its weakest since March 2009, on growing political uncertainty as an opinion poll pointed to the risk the country’s next election would result in a hung parliament.

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(Reporting by Lewa Pardomuan; Editing by Ed Lane)

Gold hits record in sterling term on weak currency