Gold hits a record near $1,100

Ben Rooney
CNNMoney
November 4, 2009

[efoods]Gold rose to an all-time high Wednesday amid a weaker dollar and speculation that foreign central banks would increase their purchases of the precious metal.

December gold jumped $10.10 to $1,095 an ounce, after hitting an all-time trading high of $1,096.20 an ounce earlier in the session. On Tuesday, gold closed at a record $1,084.90 an ounce.

Gold, which is up 23% this year, surged on Tuesday after the International Monetary Fund said it sold 200 metric tons of the precious metal to India’s central bank.

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