Gold price rises on war fears

INDIA - Fears of a military conflict between India and Pakistan pushed the price of gold to a 27-month high in trading on Wednesday.

The gold price reached $319.60 an ounce on Wednesday, its highest price since it hit $338 in October 1999, as investors sought a safe-haven for their money.

"You've got to look at the political situation in Kashmir with India and Pakistan seemingly preparing for war. This is now the key driver pushing gold prices higher," said analyst, Ross Norman

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