Gold price hits record high $1,199.49

December 1, 2009 LONDON: Gold prices soared to a record high point close to 1,200 dollars an ounce here on Tuesday, as demand for the precious metal was boosted by the weak US currency, analysts said. The glamorous metal struck 1,199.49 dollars per ounce at 0905 GMT on the London Bullion Market, after smashing a series of historic peaks in recent days and weeks. “As ever, another painful week for the US currency saw new highs for gold with the market’’s impressive advance stalling only a tick away from 1,200 dollars per ounce,” said VTB Capital analyst Andrey Kryuchenkov.