Gold Futures Soar Past $1,117

Updated from 3:32 a.m. EST

NEW YORK (TheStreet) -- Gold for December delivery, the most active contract, moved to record levels Wednesday on continued dollar weakness.

An ounce of gold, as of 5 a.m. EST Wednesday, was trading at $1,115.20 an ounce, up $13.20, on the Comex division of the New York Mercantile Exchange after soaring to as high as $1,117.80 ounce intraday.

It is the eighth-straight day that gold futures have risen.

The dollar's weakness and the belief that global interest rates will remain low for the near future have enticed buyers of the precious metal.

The dollar index, a measure that tracks the strength of the dollar against a basket of currencies, reached 15-month lows Wednesday.

-- Reported by Joseph Woelfel in New York .

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