Gold rallies to a record high on dollar weakness

Gold rose to a record high Monday as the dollar weakened against rival currencies... December gold was up $12.80 to $1,108.50 an ounce in electronic trading, after climbing to an all-time trading high of $1,109.90 earlier.

Gold gained 5% last week on speculation that central banks around the world will begin buying more of the precious metal as an alternative to the dollar, which is the traditional global reserve currency...

Yahoo!: Gold rallies to a record high on dollar weakness