Gold hits record above $1,150/oz as dollar falls

Gold rose to record highs above $1,150 an ounce on Wednesday as the dollar index languished, boosting interest in the metal as an alternative asset, after largely benign U.S. inflation data.

The metal remains firmly underpinned by technical support after several days of gains, and is likely to break through to further fresh highs in coming sessions after a build-up of momentum, analysts said.