Gold Prices At Record High, Dollar Falls

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Gold futures settled at a new record Friday, ending higher for a fourth straight week as the U.S. dollar fell against the euro to a fresh one-year low, boosting gold’s investment appeal.

The thinly traded September gold contract ended up $9.50, or 1%, at $1,004.90 an ounce on the Comex division of the New York Mercantile Exchange, the highest settlement for a nearby gold contract. The earlier record was $1,003.20 hit on March 18, 2008. The September contract rose to $1,011.90 earlier.

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