January 12, 2008	Saturday	Muharram 02,1429

HONG KONG, Jan 11: Hong Kong gold prices hit a new all-time high on Friday, touching US$897.70-898.20 an ounce, but failed to tip over the $900 mark, dealers said.

The precious metal closed at US$892.50-893.00 an ounce, sharply up from Thursday’s close of $873.50-874.00.

The price hit the new record in early trade, on hopes of further interest rate cuts in the United States.

LONDON: The price of gold struck a historic high of $897.90 per ounce on Friday owing to a weak dollar that reflected worries about slowing economic growth in the United States, traders said.—AFP