Breaks Through $1,300 An Ounce

Gold soared to a record high early Friday, breaching the key $1,300-an-ounce level, amid persistent worries about the recovery.

After reaching a peak of $1,301.30 an ounce, Gold for December deliver -- the most active contract -- eased to $1,299.80 an ounce. Gold's last intraday record high was reached on Sept. 22, when the metal hit $1,298 an ounce.

Investors look to gold and other low-risk investments as safe bets during heightened uncertainty.

Gold hit its true peak on Jan. 21, 1980, when it rose to $825.50 an ounce. Adjusted for inflation in 1980 dollars, that translates to an all-time record of $2,184.08 an ounce, in 2010 dollars.