Gold Little Changed After Rise to Record on U.S. Debt Outlook
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Gold was little changed in New York after climbing to a record on demand for an alternative to the U.S. dollar.
Gold earlier today reached an all-time high of $1,498.90 an ounce following Standard & Poor’s revision yesterday of its long-term rating of U.S. debt, to negative from stable. The precious metal has gained 31 percent in the past year, partly on Europe’s sovereign-debt crisis.