Spot gold hit a new record high Monday morning, as a broad-based commodity rally and weaker dollar sent the precious metal higher. Spot gold hit a record high of $1,517.71 an ounce before easing back some. Gold and other commodities have seen prices rise recently as geopolitical turmoil and global energy demand has some investors rattled. Gold is traditionally seen as a "safe haven" asset. Gold is buoyed this morning by a weak U.S. dollar as well. According to a Reuters report, "The dollar index languished around its three-year low on Monday, with investors expecting further weakness as the upcoming Federal Reserves' policy-setting meeting is likely to announce the continuation of low interest rates." In pre-market trade, the SPDR Gold Trust ETF is up $0.76, to $147.50. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion. Crude oil, natural gas, silver, platinum and corn are also higher this morning.

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