Gold Skyrockets to $1,500 an Ounce

NEW YORK -- Gold futures briefly touched the psychologically-significant mark of $1,500 an ounce Tuesday, the latest in a string of new records for the fast-appreciating commodity.

Gold for June wavered between small gains and losses earlier, but recently added $6.40, or 0.5 percent, to trade at $1,499.30 on the New York Mercantile Exchange.

It traded as high as $1,500 shortly after noon ET.