Gold prices rose overnight to a record high at $1069.70 an ounce on Tuesday as the U.S. dollar slipped against the euro, increasing the precious metal's appeal as an alternative asset.
Gold and other dollar-priced commodities are benefiting from a slide in the U.S. currency to 13-month lows against the euro, which helped push the dollar index to its lowest in over a year.
Firmer oil prices and an improvement in gold demand after a sluggish year for jewelry buying are also lifting prices, analysts said.
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