Gold inches up to mark all-time high

The view that the dollar will remain weak is a key support that is helping gold stay above $1,130 per ounce, analysts say.

Spot gold XAU= rose as high as $1,143.95 per ounce as of 0001 GMT, up 0.2 percent from the New York notional close of $1,141.50, Reuters reported.

U.S. December gold GCZ9 jumped to as high as $1,144.70, after settling up 20 cents at $1,139.40 in New York.

Gold is seen as a hedge against inflation, which erodes the value of paper assets.

The precious metal inched up in New York on Tuesday as worries about long-term inflation more than offset a stronger dollar.

The International Monetary Fund said it sold two tonnes of gold to the central bank of Mauritius at prevailing market prices on Nov. 11.

The report follows news that the IMF sold 200 tonnes of gold to India early in November, a factor that drove gold prices to record highs above $1,100.