Gold hits historic $910 an ounce

Gold surged to US$910 an ounce yesterday amidst worries about further weakness of the US dollar and expectations of a sharp cut in US interest rates.

The gold rally also prompted buyers to snap up other precious metals, with platinum hitting a record high at US$1,587 an ounce. Silver touched a 27-year peak at US$16.58 an ounce, while palladium rose to its highest level in two months at US$380, reported The Standard.