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Gold zooms to 28-year high

LONDON: Gold prices spurted to a 28-year high in London on Friday on frantic buying by dealers.The gold opened here nearly $6 higher at $740 an ounce, a level never seen since January 1980, after it ended in the U.S. markets at $738.50 on Thursday. Besides euro and the Indian rupee, the dollar has also weakened against Australian and New Zealand dollar.

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