The gold prices have hit a record high and it is being speculated that the performance of the metal will continue to exceed stocks and other investments.

On Friday morning, the gold futures for December delivery advanced $1,301.30 an ounce. The futures after reaching to an intraday high, closed up at $1,299.90, rising $3.60.

Talking about Thursday’s performance, the gold prices reached $1,298 an ounce, on the fall of the Dollar. This year, the MSCI World Index of equities declined 0.3%, while gold climbed up 18%. The US Dollar advanced 2.8% against major currencies of the world.

On the Comex in New York at 1:39 p.m., the gold futures for December delivery gained $4.20 or 0.3%, reaching at $1,296.30 an ounce. The metal showed the robust performance in the past five sessions also.

For December delivery, silver futures increased 15.8 cents, or 0.8%, to $21.213 an ounce, setting a record high price since 1980. On the New York Mercantile Exchange, Platinum futures for January delivery advanced $17.50, or 1.1%, to $1,654.50 an ounce. Palladium futures for December delivery mounted up $14.95, or 2.8%, to $556.85 an ounce.

Gold has been seeing as the safest horizon by the investors, in the vogue of volatility in the market.

Frank Lesh, a trader at FuturePath Trading LLC in Chicago said, “Gold’s had a good advance, so short-term traders will take profit”.