Commodities
Updated from 4:58 a.m. EST
NEW YORK (TheStreet) -- Gold prices Wednesday were setting new highs, crossing $1,180 an ounce. Gold futures for December delivery at 5:50 a.m. EST were trading at $1,177.20 an ounce, up $11.40. Earlier, gold prices set a new record of $1,180.40 an ounce. Gold continues to be looked upon as an alternative to a weak dollar, which fell against other major currencies Wednesday. The dollar slipped to 88.81 yen from 88.53 yen. The euro gained to $1.5027 from $1.4958. Gold prices also could be taking their cue from a report that India could buy more gold from the International Monetary Fund. The Reserve Bank of India, which bought 200 metric tons of gold from the IMF for $6.7 billion on Nov. 3, may buy the IMF's remaining hoard of 201.3 tons. The negotiations are now underway, reports India's Financial Chronicle newspaper. -- Reported by Joseph Woelfel in New York . Follow TheStreet.com on Twitter and become a fan on Facebook.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 14.54 |
Oil *
98.65
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
1.27 |
10 Yr
1.45%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-8.03%
|
Data delayed 20 minutes |
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