Gold price jumps to $1,529.20


NEW YORK, April 27 (UPI) -- Gold prices jumped to a record $1,529.20 Wednesday on the Comex division of the New York Mercantile Exchange, adding $12.10 or 0.9 percent.

Gold, which broke the $1,500 barrier for the first time less than a week ago, found higher ground as the dollar index fell 0.66 percent and found a bounce from the U.S. Federal Reserve, which said would keep the federal fund rate at historically low levels.

That meant the Fed would not immediately tackle rising prices and gold is seen as a hedge against inflation.

The euro rose to $1.4782 from Tuesday's $1.464. Against the yen, the dollar rose to 82.11 yen from Tuesday's 81.53 yen.

The dollar was mostly lower in Asia and mixed in Europe Wednesday.

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