By Marcus Leach

Talks between French and German leaders on Tuesday did little to ease fears that the eurozone debt crisis wouldn't spread any further than it already has.

European shares fell following the talks between German Chancellor Angela Merkel and French President Nicolas Sarkozy. The duo agreed to press for closer economic integration, although failed to announce any specific measures to do so.

Germany's Dax index fell 1.7%, while the Cac 40 in Paris and London's FTSE 100 lost about 1% each.

As well as this gold hit a new record high, which has always been a traditional measure of economic uncertainty, as gold is seen as a safe investment.

Having slipped back towards the end of last week gold reached $1,795 an ounce in early trading on Wednesday.

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