Summary Box: Gold touches new high on weak Euro economy and drop in dollar

Summary Box: Gold touches new record high

GOLD RECORD: Gold prices touched a new record high Tuesday, climbing as high as $1,276.50 an ounce after disappointing reports on Europe’s economy, a weakening dollar and a seasonal rise in jewelry demand.

EUROPEAN CONCERNS: Investors sought safe assets after German investor confidence fell sharply in September, and industrial production unexpectedly slowed during July in the countries that use the euro.

JEWELRY SHOPPING: A traditional increase in demand heading into Indian wedding season also helped push gold futures higher.