Gold reached a new intraday high of $1,782.50

Investors flee to gold while oil slips


NEW YORK (CNNMoney) -- Stock-shocked investors are fleeing to gold, pushing the precious metal to new heights, while oil continues to retreat.
Gold reached a new intraday high of $1,782.50 per ounce in electronic trading before backing down to $1,745.40. That's an increase of $32.20, or about 2%, compared to its Monday close. On Monday, gold broke $1,700 for the first time.

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Investors flee to gold while oil slips