Singapore - Gold extended gains on Wednesday as inflation fears stoked by record high oil prices boosted the metal's safe-haven appeal in times of uncertainty. Gold has bounced more than 7% since falling to a one-week low at $873.50 an ounce last week, mainly driven by rising oil prices, but it remained below a record high of $1 030.80 hit in March. Gold rose to $939.15/940.15 an ounce from $938.40/939.40 late in New York. It rallied to hit a high of $945.80 an ounce on Tuesday, its strongest since April 18, on the back of rising oil prices and weak stock markets. "The things that have driven it up seem to be hanging around. Obviously oil has been forever there and remains a concern to many worrying about the consequential effects on inflation," said Darren Heathcote of Investec Australia in Sydney. "For the time being, I...
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