U.S. gold hits record high of $1,043.20 an ounce
NEW YORK (Reuters) - U.S. gold futures rose to an all-time high of $1,043.20 an ounce on Tuesday as a weakened U.S. currency prompted investors to buy gold as a hedge against dollar-denominated portfolios.
That bested the previous record of $1,033.90 for COMEX gold on a second-month continuation basis set earlier this morning.
Most-active December gold contract was up $22.60, or 2.3 percent, at $1,040.40 an ounce at 10:19 a.m. EDT (1419 GMT) on the COMEX division of the New York Mercantile Exchange.
(Reporting by Frank Tang; Editing by John Picinich)
(For more news on Reuters Money visit www.reutersmoney.in)
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
PLAYBOY SALE
An icon bows to changing times
With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech. Full Article
India
US
UK
