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London gold at 6-year high

LONDON JAN. 17. Gold climbed to its highest since March 1997 on Friday as nervous investors digested the discovery of a cache of empty chemical warheads in Iraq.

Gold was quoted at $357.75/8.50 an ounce at morning trade, up $4 from the end of European trade on Thursday.

Bullion was set or "fixed'' in London at its highest since March 1997 as investors bought into the safe-haven metal on jitters over Iraq and a weaker dollar.

Gold was set at $358.20, up from the previous fix level of $352.30 and up from $285.15 at this time last year.

The leap in prices came after U.N. weapons inspectors in Iraq said they had had found a cache of empty rocket warheads.

— Reuters

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