Gold touched to a new record high of $1,460.90 per ounce as the U.S. dollar fell to a 14-month low against the euro. Silver traded to fresh 31-year highs at $39.65 per ounce. Investors are pouring funds into precious metals, traditionally anti-dollar hedges, as the U.S. Fed is perceived to be the last central bank to ignore an emerging inflation problem. The European Central Bank is widely expected to raise interest rates at tomorrow’s monetary policy meeting.
S&P 500 stock futures rose 8.10 to 1334.80 ahead of the opening bell on Wall Street.