Why the price of gold could hit $6,300 (in theory) Comments by Dylan Grice, an strategist at investment bank Societe Generale, stirred up fevered debate in internet forums last week by suggesting that the price of gold could exceed $6,000.       Investigation: Digging for signs of a gold bubble He said it was possible to make comparisons with gold bull market of the 1970s - a period of tight energy markets, central banks pumping in to much liquidity and 'nervousness that policymarkers had lost their way'. Read more...

Precious metal settles slightly below that mark, continuing its rise on dollar weakness after Dubai debt fears ease.

By Julianne Pepitone, CNNMoney.com staff reporter
Last Updated: December 1, 2009: 1:50 PM ET

NEW YORK (CNNMoney.com)

Gold prices crossed $1,200 an ounce Tuesday and closed at a record high as dollar weakness and easing of Dubai debt fears pushed the precious metal higher.

U.S. gold futures for December delivery reached an intraday high of $1,202.70 an ounce before backing off and settling up $18 to $1,119.10.

"Concerns about geopolitical events have been pushing investors to seek safe-haven assets," said Carlos Sanchez, analyst at CPM Group. "Gold is seen as a hedge against that volatility."

Read More...