Gold Tops $1,000 as Dollar Weakens

The December contract, the most active, last traded at $1,006.50 on the New York Mercantile Exchange.
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Updated from 5:54 a.m. EDT

NEW YORK (

TheStreet

) -- Gold futures for December delivery rose to an intraday high of $1,009.40 on Tuesday as the dollar weakened and inflation concerns grew.

The December contract, the most active, last traded at $1,006.80 on the New York Mercantile Exchange.

It's the first time a front-month contract has traded above $1,000 in six months.

The dollar fell to 92.18 yen from 93.05.

-- Reported by Joseph Woelfel in New York

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