One day after setting high marks at least twice during one session, gold futures' new all-time high is $1,512.47 per troy ounce.
"The weak dollar is having the most influence on gold at the moment," according to Chae Un Soo, a Seoul-based trader at Korea Exchange Bank Futures. "The market is getting more jittery now that we have sovereign-debt concerns about the U.S. in addition to Europe and the Middle East problems, which increasingly boosts safe-haven demand for gold."
Since the markets were not open for the Good Friday holiday, gold futures closed Thursday having increased 0.33 percent, a $4.90 gain to $1,503.80 per troy ounce. The value of the precious metal has surged more than 31 percent during the past 12 months.
"Overall trade for gold and other precious metals was extremely thin due to the market holiday in the U.S. and U.K.," Hiroyuki Kikukawa, general manager of research at IDO Securities in Tokyo, told Bloomberg.
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