Street Wire: Gold Prices on Pace for New Record High Close

Gold prices broke above their nominal closing record of $1,245.60 an ounce Thursday on the Comex division of the New York Mercantile Exchange (CME). Gold futures for August delivery, the most heavily traded contract, hit $1,250.30 at one point in early trading. By midday gold futures were up $16 at $1,246.60.