Gold hits another record high price - KWWL - Eastern Iowa Breaking News, Weather, Closings

Gold hits another record high price

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NEW YORK (AP) -- Gold prices are at a record high as investors look for a safety net after sorting through a batch of mixed economic news.

Gold settled at a record $1,308.30 an ounce Tuesday after hitting $1,311.80 an ounce earlier in the day.

In economic news, consumer confidence now sits at its lowest point since February, while a forecast is calling for declining home prices in some cities.  On the positive side, another big corporate acquisition is in the works.

Gold and most commodities also are benefiting from a weaker dollar.  Commodities are priced in dollars so a weaker dollar makes them more attractive to overseas buyers.

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