Gold futures on the COMEX Division of the New York Mercantile Exchange further hiked on Tuesday, as the U.S. debt concerns weighed on U.S. dollar, boosting the appeal of gold. Gold prices also tested the intraday record of 1,500 dollars in the day.
The most active gold contract for June delivery gained 2.2 U.S. dollars, or 0.15 percent, to 1,495.1 dollars per ounce.
Market analysts said that the weakness in U.S. dollar played a significant role in enhancing gold's appeal. The greenback dropped against the euro after Standard & Poor's threatened to cut the U.S. AAA credit rating.
Besides, the speculation that European Central Bank would further raise the interest rate also added to the dollar's woe.
Concerns about inflation also helped strengthen gold's value. Both China and U.S. reported high price level in March.
Tuesday's gold prices even topped the psychological mark of 1, 500 dollars in the intraday trading.
Silver for May delivery also hiked 95.7 dollars, or 2.2 percent, to 43.913 dollars per ounce. July Platinum further lost 12 dollars, or 0.67 percent, to 1,782.8 dollars.
