Gold prices setting new highs - KWWL - Eastern Iowa Breaking News, Weather, Closings

Gold prices setting new highs

NEW YORK (AP) -- Gold is settling at a record high following new worries about European banks and the global economy.

Gold for December delivery added $8.20 to settle at $1,259.30 an ounce Tuesday. The previous settlement high was a dollar less an ounce.

The jump comes after new reports indicated European banks may have more risky government debt on their books than previously disclosed.

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