Gold prices surged to levels approaching $1000 per ounce Thursday amid caution by financial market players and worries about the gaping US budget deficit.
In late New York trade, gold was fetching 997.70 dollars per ounce after moving as high as 999.50 dollars on the New York Mercantile Exchange.
That neared the highs of the year of 1,006.29 dollars reached on February 20.
Gold, which is often seen as a hedge against inflation and economic turmoil, hit an all-time record price of 1,032.70 dollars in March 2008.
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