(RTTNews) - The price of gold soared to a new record high Monday morning amid escalating violence in Libya and the Middle East that boosted oil prices and inflation worries.
Gold for April delivery, the most actively traded contract, was up $12.90 to $1,441.50 an ounce. Last week, gold advanced to an intraday high of $1,441 before settling at $1,428, gaining nearly $20.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,210.96 tons.
Meanwhile, the U.S. dollar extended its four-month low versus the euro and lingering near its 13-month low against sterling. The buck was trading flat versus the Swiss franc and the yen.
Elsewhere, the price of silver advanced to a fresh 31-year high and platinum was ticking higher in morning deals.
