NEW YORK (AP) — Gold prices have extended their rally, climbing to fresh highs even as the dollar recoups some of its losses.
Oil prices are down after a government report showed an oversupply of gasoline, while grain prices are slightly higher.
Gold for December delivery touched a new high of $1,049.70 an ounce, before settling up $4.70 at $1,044.40 an ounce.
Investors have been sending gold higher as the dollar declines, fearing a weak greenback will eventually lead to inflation. Gold is often used as a hedge against inflation and a falling dollar.