On Monday, gold futures continued to climb through the Asian trading session. The contract was up $52.00 to $1,703.80 an ounce.
During the session, it reached a new high record of $1,704.90 an ounce.
Investors and traders are buying gold as they retreat from riskier assets, such as equity, in the wake of a historic downgrade of U.S. government debt late Friday.
In Asia equity markets were firmly lower so far. Oil futures trade below $74 a barrel.
