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Foreign govements have been getting in on the recent gold rush, driven by continued fears about Europe’s debt crisis and the pace of the global economic recovery.

Those conces have been propelling the precious metal to record highs over the past 18 months. In fact, gold posted a new intra-day high Friday, when it reached $1,260.90 an ounce. A day earlier, it reached a fresh record high closing price of $1,248.70 an ounce.

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