LONDON, July 27 (Reuters) - Gold prices extended their earlier record high to a new peak of $1,625.70 an ounce as investor concerns over the health of the U.S. economy stoked demand for the metal as a haven from risk.
The dollar extended losses against the yen after an unexpected fall in orders for U.S. durable goods orders, while U.S. authorities are still trying to avert a debt default which could cost the United States its top-notch credit rating.
Spot gold was up 0.3 percent at $1,623.45 an ounce at 1243 GMT. (Reporting by Jan Harvey; Editing by Alison Birrane)