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Wednesday, November 04, 2009
December Gold Hits New Record High Of $1,093.70/oz
By Polya Lesova
MarketWatch Pulse
FRANKFURT -- Gold futures surged to a new record high on Wednesday, extending their recent strong gains. Gold for December delivery, the most actively traded contract, hit an intraday high of $1,093.70 an ounce in electronic trading on Globex, a new record high for the contract surpassing Tuesday's peak of $1,088.50 an ounce. December gold futures were last up $5.70 to $1,090.60 an ounce, as the dollar weakened against most of its major rivals. On Tuesday, December gold closed up $30.90 an ounce, or 2.9%, to $1,084.90 an ounce, a record closing high for the contract, after news that India's central bank purchased 200 metric tons of bullion from the International Monetary Fund.
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