Gold Rides Higher, Eclipsing $1,123

Updated from 12:23 a.m. EST

NEW YORK (TheStreet) -- Gold for December delivery, the most active contract, continued its ride higher passing $1,123 an ounce on Thursday.

An ounce of gold, as of 4:30 a.m. EST, was trading at $1,115.50 an ounce, up 90 cents, on the Comex division of the New York Mercantile Exchange after soaring to as high as $1,123.40 an ounce intraday.

The increase marks the ninth-straight day that gold futures have risen.

Investors appear to be snapping up gold and driving the price to record levels as the dollar has hit 15-month lows.

Gold has risen about 7% so far in November and is up about 26% for the year.

-- Reported by Joseph Woelfel in New York .

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