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Gold extends gains; hits record high above $1,080/oz

4/11/2009 3:00:26 AM

LONDON, Nov 3 (Reuters) - Spot gold extended earlier gains to hit a record high at $1,080.60 per ounce on Tuesday, carried up as the International Monetary Fund's sale of 200 tonnes of gold boosted sentiment toward the precious metal.

By 1558 GMT, spot gold stood at $1,076.20 per ounce compared with $1,059.15 late in New York on Monday. Traders also cited the dollar paring earlier gains to a one-month high versus a basket of currencies <.DXY>.

(Reporting by Veronica Brown; Editing by William Hardy)

© 2008 Thomson Reuters. All rights reserved.Click for Restrictions

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