Gold hit another record high Friday -- topping $1,300 US an ounce as safety-seeking investors continued to dump money into the precious metal.
The December futures contract for bullion was trading at $1,300.50 US an ounce at 8am EET in New York. That was a gain of $4.20 from Thursday's close.
Gold got a boost after France reported better-than-expected GDP figures, strengthening the euro and tamping down the U.S. dollar. Gold is priced in U.S. dollars, so a weaker American currency makes it cheaper for those outside the U.S. to buy gold.
Some analysts said $1,300 was a key level for gold to breach.
Silver also hit a new 30-year high. It was trading at $21.40 US an ounce -- its highest level since the Hunt brothers of Texas tried to corner the silver market in 1980. At that time, silver prices hit $50 US an ounce.
