Gold extended its record high on follow-through buying Wednesday, before paring gains late in the session as some traders lightened positions ahead of a post-meeting statement from the Federal Open Market Committee.

December gold rose $2.40 to $1,087.30 an ounce on the Comex division of the New York Mercantile Exchange. It peaked at $1,096.50, an all-time high for a Comex most-active contract. The November futures hit $1,094, a spot-month record.

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