Gold futures on the COMEX Division of the New York Mercantile Exchange jumped for the fourth session in a row on Thursday, settling above 1,800 dollar per ounce.
The price of gold hit a new record high on Thursday, settling above 1,800 dollar per ounce, as investors sought a safe haven for their money.
The most active gold contract for Dec. delivery rallied 28.2 dollars, or 1.6 percent, to 1,822 dollars per ounce.
Gold prices have more than doubled since the winter of 2007, and are up about 19 percent since the beginning of June.
While gold has recently hit a series of record highs, when adjusted for inflation it remains below a 1980 peak of US$850. That's about US$2,400 in 2011 dollars.
Morgan Stanley warned the global economy was "dangerously close to a recession" and revised their 2011 global growth forecast down to 3.9 percent from 4.2 percent and 2012 forecast to 3.8 percent from 4.5 percent.
Despite gold's record prices, demand in the second quarter was strong, with buyers in India and China accounting for 52 percent of total bar and coin investment and 55 percent of jewelry demand, said the World Gold Council on Thursday.
