Gold Marks Record High as Dollar Weakens

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Gold hit yet another record high Monday, reaching $1,108.80 an ounce as the U.S. dollar continued its downward spiral.

Investors moved into gold after America's unemployment rate climbed to 10.2 percent in the latest government report on Friday.

Meanwhile, the dollar index, a measure of the dollar's value against a basket of currencies, slid .9 percent to a two-week low of 75.

So far this year, the metal has gained more than 25 percent - driven not only by the dollar's slide, but by the failure of the Group of 20 nations to address more specifically the greenback's decline, Reuters reported.

Although analysts say corrections are possible, they also believe that gold's long-term trend is still up and that it's not done hitting record highs.

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