Gold at record on S. Korea exchange

Gold prices hit a record price in Seoul on Saturday, climbing to $234.30 per don, as the price has climbed 14 percent in the past month. On the Korea Gold Exchange, the price of gold has added more than $33 per don in the past month, Yonhap reported. A don is the equivalent of 3.75 grams. In New York on Friday, gold for December delivery rose to a record $1,852.20 per troy ounce, as investors flocked to the precious metal, which is seen as a safe haven when other investments appear risky. A troy ounce weighs more than a standard ounce, as there are 12 troy ounces to a pound, rather than the standard 16 ounces to a pound. Gold has climbed sharply since the financial crisis hit. In Korea, gold was at $101.08 per don in August 2008.