Gold bars are put on exhibition at Habib Jewels' boutique in Kuala Lumpur in this September 17, 2009.
Gold hit record highs close to $1,250 per ounce in Europe on Friday as shareholders purchased the metal to guard against sovereign jeopardy in the Euro zone and unsteadiness in the foreign exchange markets.
Fear of lesser growth due to tough austerity measures in euro zone peripheral economies triggered the fall of European shares on Friday and euro continues to drop against dollar by further slipping below $1.25.
After rising by 0.1 percent, at 1120 GMT, the FTS Euro first 300 .FTEU3 indexes of top European shares fell by 2 percent at 1,029.12 points.
European stock markets increased on Thursday after announcements were made from Spain and Portugal, regarding the implementation and carrying out of severity measures, sustained universal sentiment, enlivening investors' hunger for riskier stocks and the Euro.
The euro fell on Tuesday on account of the relief rally extended by an emergency aid package aimed to inhibit the spread of a euro zone debt crisis dissipated and the focus went back to structural problems plaguing the bloc.
It has been reported that the European stock option's benchmark index had jumped ahead to the highest level, ever since March 2009 on the debt concern. It is basically due to the fact that the leaders of the region cannot really gain control over the debt crisis that is raging there.
Reports claim that Europe's debt problems may lead to a sudden rise in the demand for dollar funding.
The swap offered rates have fell in Thailand due to the debt problems in Europe. Concerns over dollar funding shortages have led to immense pressure on the forex swaps and interest rate swaps in Thailand.
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