Gold Sets New High After Fed

NEW YORK (TheStreet) -- Gold surged to an all-time high of $1,098 as the Federal Reserve reiterated its intent to continue its cheap-money policies for "an extended period" and investors continued to follow India's lead and purchase the precious metal as an alternative asset.

Gold delivery for December was rising $12.30 to $1,097.20 an ounce at the Comex division of the New York Mercantile Exchange. The contract has traded as low as $1,080.50 and as high as $1,098.50.

Silver was adding 34 cents to $17.52 and copper was rising 4 cents to $3. ...