Gold hits record highs

Gold hit record highs of more than $1,225 an ounce yesterday as it continued to attract investors looking for an alternative to the dollar.<br /><br />The precious metal has risen by more than seven per cent since touching a low of $1,136.80 last Friday on fears of a possible default on debt in Dubai, which spurred investors to sell the precious metal to raise cash to cover losses.<br /><br />Analysts say worries about Dubai's loan payment problems still linger, but have been pushed to the backburner.