Gold Sets New Record in Asia - Market Report

In todays market report gold powered to another record high in Asia Monday, as U.S. economic doubts grow.

Bullion prices, up 32 percent this year alone, have ticked off a string of highs with eyes on $1,200 an ounce by next year.

Oil was up on heightened tensions between Iran and Western nations. Senior officials from six world powers voiced disappointment that Iran had not accepted proposals to delay its nuclear weapons potential.

Iran's armed forces launched a large-scale air defense war games Sunday, coming as the country is facing pressure over its nuclear program.

Asian shares edged higher at the start of a holiday-filled week. Japanese financial markets were closed Monday.

South Korea's LG Electronics dipped on market talk if may bid for Hynix Semiconductor, the world's No.2 memory chipmaker.

LG shares were also pressured by news Apple's iPhone would go sale in the country from Saturday, offering by the No.2 mobile player KT Corp.
Category: News & Politics
Tags:
NTD NTDTV Market Report Gold Money Economy Bullion price Iran Western nations Nuclear weapon Financial market Memory chipmaker