The Associated Press November 8, 2010, 3:50PM ET

Gold sets record high amid economic fears

Investors continue to seek out gold's perceived safety net as global economic worries resurface.

Gold prices set another record high Monday, settling at $1,403.20 an ounce. Some analysts believe gold could reach $1,500 an ounce by year's end.

A combination of factors is creating fresh worries among investors, including Ireland's newest debt difficulties and another global financial summit that seems likely to produce more tensions over currency policy.

Investors also are concerned about the prospect of inflation stemming from the Federal Reserve's $600 billion bond-buying program.

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