Gold prices climbed again today almost hitting a record intra-day high of $1,478 an ounce. As the precious metal inched closer to $1500 an ounce many people are concerned on the news from the US government that consumer prices increased last month due in large part to higher food and gasoline costs. This marks the third straight day of higher prices for gold, silver, and other precious metals. Investors often purchased gold as they had against inflation and a weakening dollar. Spencer Patton, founder and chief investment officer for hedge fund Steel Vine Investments LLC. recently said, investors are “getting increasingly concerned about inflation.” If gold does reach its intra-day high of $1,478 an ounce soon you may see more technical traders getting back into the gold market. When that happens it will definitely fuel the push toward $1500 an ounce gold. Oil today topped $110 a barrel for a short time and silver prices reached a 31 year high.