A weak U.S. dollar and chart-based buying enabled December gold Tuesday morning to hit a record high for any most-active contract ever traded on the Comex division of the New York Mercantile Exchange.
The contract peaked at $1,043.20 an ounce, taking out the previous most-active record of $1,033.90 set in March 2008.
The metal rose in the wake of the euro hitting a high of $1.4750, compared to $1.4651 late Monday afternoon.
Gold has been rising for some time due to concerns about the dollar and potential inflation whenever the global economy recovers, due to all of the stimulus efforts from central bankers and governments around the globe.
Related Stories
