Gold hits record high

Forget about $1,000 an ounce - now we're talking $1,045. That's up from the previous peak of $1,033.90 in March 2008. Gold took off this morning and the dollar sank on reports that Arab states, China, Russia and other countries were considering a plan to stop pricing oil in dollars. Those reports were denied, but the market is obviously skittish. From Bloomberg:

"Gold is acting like the ultimate currency," said Chip Hanlon, the president of Delta Global Advisors Inc. in Huntington Beach, California. "Central banks are following the same monetary course and trying to stimulate and inflate their way back to growth. Everyone's concerned about the dollar, but it's not like you can hate the dollar and fall in love with the euro or the yen."