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IPFS News Link • Precious Metals

Update: $1436.10 an ounce: Gold hits record $1,432.57 an ounce


WASHINGTON – Gold struck a new record at $1,432.57 an ounce Tuesday as worries spread that the surging price of oil could fuel inflation and dampen economic growth.

The price on the London Bullion Market jumped more than $13 an ounce from Monday to top last December's record of $1,431.25, before falling off slightly to around $1,430.50 at 2035 GMT.

On the New York Mercantile Exchange, the price on the contract for April delivery closed at $1,431.20, also a record for that market.