Gold in record territory, pushes past $1,453

Gold futures shook off early weakness to trade in record settlement territory Tuesday, supported by conflict in the Middle East and North Africa, fears of a potential U.S. government shutdown, and continued worries about Europe’s sovereign debt.

Gold for June delivery /quotes/comstock/21e!f:gcm11 (GCM11 1,453, +19.80, +1.38%) rose $20.50, or 1.4%, to $1,453.30 an ounce on the Comex division of the New York Mercantile Exchange.

A close around these levels would be a record settlement for gold, which last reached that milestone on Thursday, when it closed at $1,439.90 an ounce.

But Tuesday session already made history. Prices rose as high as $1,455.50 an ounce, an intraday record for gold.

The metal had last reached an intraday high on March 24, when it traded as high as $1,448.60 an ounce.

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- Posted: 2011-04-05 12:25:39

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