Gold hit another record in trading on Monday as the dollar is expected to tumble against other currencies, CNBC reports.
Gold hit $1,517.71 an ounce, before easing to $1,515.65, up 0.8 percent, says CNBC. U.S. gold futures also rose to an all-time high, at $1,518.6 an ounce.
Booming silver prices are also accompanying rising gold, and have actually outpaced gold numbers.
“[T]he combination of upbeat global growth, signs of weaker U.S. growth and the spectre of dovish Fed policy is expected to support fund flows to higher-yielding currencies such as the euro and the Australian dollar from the U.S. currency, traders said,” according to CNBC.
The dollar has been falling due to perceptions that the United States is set to maintain an easy monetary policy even as most other major global economies, with the exception of disaster-stricken Japan, look to tighter monetary policy to rein in inflation.