GOLD RALLIES TO RECORD HIGHS

NEW YORK (MarketWatch) — Gold futures hit a new record high on Tuesday, lifted by dollar weakness after Australia hiked interest rates and after a report that Gulf oil producers, along with China, Russia, Japan and France, are planning to eventually end dollar-based oil pricing. Gold for December delivery rose as high $1,038.00 an ounce in electronic trade, topping the previous record of $1,033.90 reached in March 2008. The December contract recently traded at $1,037.50 an ounce, up $19.70, or 2%.

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