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LONDON - The price of gold hit a record high of 1,111.20 US dollars an ounce in trading in London on Monday in response to a surge in demand from emerging markets and a sharp drop in the value of the dollar.
Gold prices have risen as investors move away from a falling dollar.
Sri Lanka's central bank on Saturday said it had been buying up gold to diversify its reserves amid volatile currency markets, days after India announced it had purchased 200 tons of the precious metal.
As of 1500 GMT, spot gold was trading at US$1,106.35 an ounce.
- AFP/ir
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