Gold eases after hitting record high in NY

November 4, 2009, 5:35pm

TOKYO, Nov 4 (Reuters) – Gold eased on Wednesday as investors took profits a day after it hit record highs despite the dollar's strength, but sentiment improved on bullion's growing status as a destination for a diversifying official reserves.

Spot gold was at $1,081.60 per ounce at 0240 GMT, down 0.3 percent from New York's notional close of $1,084.50. On Tuesday, spot gold hit an all-time high of $1,087.45.

US gold futures for December delivery inched down 0.2 percent to $1,082.70 per ounce, compared to $1,084.90 an ounce on the COMEX division of NYMEX. Futures hit a record high of $1,088.50 on Tuesday.

Overnight in New York, gold surged to a new record high price of 1,085.07 dollars an ounce Tuesday, a day after an announcement of a massive sale of gold by the International Monetary Fund to India. Prices in London hit 1,085.07 dollars per troy ounce and New York prices reached 1,084.70 dollars, breaking records set last month.