SAN FRANCISCO (MarketWatch) -- Gold settled at a record Tuesday, aided by lingering fears of a slide into a recession and as investors looked for an alternative to currencies.
Gold for August delivery, the most active contract, advanced $4.80, or 0.4%, to finish at $1,245.60 an ounce, the highest price since gold futures started trading in the 1970s.
That supplanted the May 12 finish of $1,243.10 an ounce for the then most-active contract trading on Comex.
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