Sept. 16 (Bloomberg) -- Gold rose to a record in London and New York as investors sought protection against turmoil in the global economy and financial markets. Bullion climbed as high as $1,276.35 an ounce in London and has outperformed global equities, Treasuries, crude oil and most industrial metals this year. The dollar fell to a five-week low against the euro today. The metal usually moves inversely to the U.S. currency. “People are worried about the European financial system and debt market, and the outlook for the U.S. and global economy,” said Mark O’Byrne, executive director of brokerage GoldCore Ltd. in Dublin. “People are worried about equities, debt, property” and currencies, he said. Gold for immediate delivery advanced 0.6 percent to $1,275.23 an ounce at 11:55 a.m. in London. Today’s high beat the Sept. 14 peak of $1,274.95. Gold futures for delivery in December gained as much as 0.7 percent to $1,277.90 an ounce on the Comex in New York. --Editors: John Deane, Claudia Carpenter. To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net. To contact the editors responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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