NEW YORK—Gold futures set a fresh record settlement as monetary tightening in Singapore sent investors out of the U.S. dollar and into the perceived hedge of the metal.
The most-actively traded gold contract, for December delivery, rose $7.10, or 0.5%, to settle at $1,377.60 a troy ounce on the Comex division of the New York Mercantile Exchange. It hit $1,388.10 in electronic activity overnight, the strongest-ever price for a most-active contract.
"Gold was higher on the weaker dollar," said Sterling Smith, market ...