Gold prices ease off fresh highs

The price of gold surged to a fresh intraday record Monday before pulling back as investors digested China's decision to allow the yuan to appreciate against the dollar.

What prices are doing: Gold for August delivery rose 40 cents to $1,258.70 an ounce. Earlier, prices climbed to $1,266.50, beating the record intraday high of $1,263.40 set the previous session. Gold prices also set a settlement record Friday, at $1,258.30 an ounce.

What's moving the market: Gold prices have advanced for four consecutive weeks and could remain in record territory on continued momentum.

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- Posted: 2010-06-21 09:51:51

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