Gold scaled a new near-25-year peak on Monday as fund managers poured money into the metal due to worries about inflation and dollar weakness against the yen, dealers said.Market talk that some central banks might buy gold to increase the metal’s share in their reserves boosted sentiment. Gold also gained in other currencies. ‘‘In the near term, we are very close to an important level of $550 (an ounce) and I would expect that we would trade (at that level) sometime this week,’’ said John Reade, precious metals analyst at UBS Investment bank.Spot gold rose to $544 an ounce in Asian trade, its highest price since March 27, 1981, when it hit $547.25.Market talk that China and other central banks in Asia—which jointly have $2.6 trillion in foreign currency assets— may be looking to diversify some of their reserves into gold has underpinned sentiment since late last year.Stronger gold prices elevated mining shares in Australia,the world’s second-largest bullion producer after South Africa. —Reuters
