The price of gold forged a record high above 1,068 dollars an ounce here on Tuesday as the dollar sank against the euro.

On the London Bullion Market, gold struck 1,068.63 dollars an ounce, which was the highest level ever recorded.

Gold's latest pinnacle was recorded after the European single currency climbed as high as 1.4876 dollars, a level which was last seen in August 2008.