Gold jumps to $915.90 before retreating

Gold hit yet another new record high on Monday after the US dollar weakened again versus the euro, dropping within sight of its record low against the shared currency.

Futures were as high as $915.90 per troy ounce, while spot gold rose to $914 per troy ounce.

At near the close of floor trade in New York, February gold contracts had dropped back to $903.40 per troy ounce, still a gain of $5.70 on the session.

Still, some analysts were warning that there could be a downward correction of between $50 and $100 for gold prices at any point.

Other precious metals followed gold higher, with March silver adding 6 cents to $16.43 per troy ounce while April platinum jumping $14.60 to $1,584 per troy ounce.