From Dow Jones: Gold is defying expectations of a pullback by hitting further record highs Wednesday as commodity currencies continue to underperform and concerns of inflationary asset bubbles heighten.

The precious metal, traditionally viewed as a hedge against inflation, hit $1,183.05 a troy ounce in European spot trade, building on a rally that started to gather pace a month ago. Most-active February gold on the Comex division of the New York Mercantile Exchange meanwhile rose to $1,184.07/oz………………………….Full Article: Source