Gold strikes another record

Gold powered to another record on Monday as the falling US dollar and bleak macroeconomic data spurred buying from investors seeking a safe haven.

Cash gold hit a high of 1,103.05 an ounce,surpassing Friday8217;s lifetime high of 1,100.90,with US December gold futures rising as high as 1,103.7 an ounce,to another lifetime high.

Gold has gained more than 25 per cent in 2009,driven by persistent weakness in the US currency,and recently by the failure of a meeting of financial officials of the Group of 20 nations to discuss the dollar8217;s decline more specifically.