Gold prices surged as US Stocks Slide

Gold prices surged to a fresh seven-month high and Crude oil fell almost 7% to under $35 per barrel on increased worries over weak demand worldwide and increased safe-haven buying of hard assets.Gold ended near its high of $974.02 with a gain of 2.8% while silver ended near its high of $14.21 with a gain of 2.7%.U.S. stocks plunged, with the Dow Jones Industrial Average down more than 250 points.Dollar was generally stronger versus major currencies.Usually, gold and dollar moves opposite but with the recent economic uncertainty around the world have lifted both the dollar and gold.This year, gold is up 9.4%, while the Dow Jones Industrial Average is down 14%.Light, sweet crude for March delivery fell $2.58 to settle at $34.93 a barrel on the New York Mercantile Exchange.