Front-month December gold futures have posted gains in all but two trading sessions since the beginning of last month.
The contract climbed as high as $1,217.30 an ounce in electronic trading on Globex, surpassing the record set in the previous session.
December gold was last up $13, or 1.1%, to $1,212.10 an ounce.
"The continued weakness in the (U.S. dollar) as well as falling U.S. real interest rates have spurred strong investment interest for precious metals over the last few months," said analysts at Credit Suisse in a note to clients Wednesday.
"Speculative positioning shows a sharply rising net long position in gold and silver," they said.
Commodity sector funds took in more than $1 billion for the second week in a row during the week ended Nov. 25, according to data from EPFR Global.
The inflows fell just short of the previous week's record-setting $1.34 billion, as investors sought hedges against U.S. dollar weakness and inflation.
Year-to-date, flows into this fund group stand at $14.6 billion, EPFR Global said.
/quotes/comstock/13*!gld/quotes/nls/gld GLD 117.38, +1.74, +1.50%
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"As long as these drivers, i.e. the softer U.S. dollar, lower interest rates, reduced risk aversion and benign equity markets, remain at play, the upward trend in commodities should continue," said analysts at Commerzbank AG in a note.
The contract climbed as high as $1,217.30 an ounce in electronic trading on Globex, surpassing the record set in the previous session.
December gold was last up $13, or 1.1%, to $1,212.10 an ounce.
"The continued weakness in the (U.S. dollar) as well as falling U.S. real interest rates have spurred strong investment interest for precious metals over the last few months," said analysts at Credit Suisse in a note to clients Wednesday.
"Speculative positioning shows a sharply rising net long position in gold and silver," they said.
Commodity sector funds took in more than $1 billion for the second week in a row during the week ended Nov. 25, according to data from EPFR Global.
The inflows fell just short of the previous week's record-setting $1.34 billion, as investors sought hedges against U.S. dollar weakness and inflation.
Year-to-date, flows into this fund group stand at $14.6 billion, EPFR Global said.
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"As long as these drivers, i.e. the softer U.S. dollar, lower interest rates, reduced risk aversion and benign equity markets, remain at play, the upward trend in commodities should continue," said analysts at Commerzbank AG in a note.
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