Gold futures surged to another record Friday as investors held a dim view of global growth prospects and sought instead the perceived safety of the metal. Gold for December delivery advanced $30.20, or 1.7 percent, to $1,852.20 an ounce on the Comex division of the New York Mercantile Exchange. It traded as high as $1,881.40 an ounce, an intraday record for the metal. “We could hit $2,000 as early as next week sometime at this rate, certainly in the next weeks,” said Matt Zeman, head trader and strategist at Kingsview Financial in Chicago. Gold's fast rise has been of some concern, he added. It could end with a selloff that would shave $200 to $100 off current prices, although underlying fundamentals for the metal are favorable, Zeman said. “It is starting to look a little bit bubbly,” he said. Gold added 6.4 percent in the week. It has gained 14 percent this month, having ended July at $1,631.20 an ounce. Friday's record supplants the previous high-mark hit Thursday, when gold ended at $1,822 an ounce.
