SINGAPORE: Gold surged to record highs on Friday for a second consecutive session as investors reached for the safety of bullion amid a worsening economic outlook for the United States and concern about the health of Europe's banks.
Disappointing U.S. manufacturing and housing data fuelled worries that growth in the world's largest economy has stalled.
Renewed fears about the health of Europe's banks encouraged the flight of investors from stocks to safe haven bets such as gold.
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