updated 10/7/2009 6:26:57 PM ET 2009-10-07T22:26:57

Gold prices have extended their rally, climbing to fresh highs even as the dollar recoups some of its losses.

Oil prices are down after a government report showed an oversupply of gasoline, while grain prices are slightly higher.

Gold for December delivery touched a new high of $1,049.70 an ounce, before settling up $4.70 at $1,044.40 an ounce.

Investors have been sending gold higher as the dollar declines, fearing a weak greenback will eventually lead to inflation. Gold is often used as a hedge against inflation and a falling dollar.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 2.79%
$30K home equity loan FICO 5.78%
$75K home equity loan FICO 4.54%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.57%
13.57%
Cash Back Cards 17.91%
17.91%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com