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NEW YORK (CNNMoney.com) -- Gold continues to break records, hitting its fourth new high in a week Monday, fueled by economic jitters.
Gold futures for December delivery closed at $1,280.80 an ounce, up $3.30, or about 0.3%. That breaks the record close that was set on Sept. 17, when prices rose $3.70 to settle at $1,277.50 an ounce.
Gold futures for December delivery reached an intraday record that was even higher, at $1,285.20 per ounce. The prior intraday record was $1,284.40 an ounce, on Sept. 17.
Gold prices have been riding a wave of economic uncertainty. Jono Remington-Hobbs, a precious metals analyst for the TheBullionDesk in London, said the big drivers are economic uncertainty, volatility in the currency markets and the possibility of more quantitative easing -- meaning the buying of bonds by the U.S. government.
Despite the announcement by the National Bureau of Economic Research that the recession ended in June 2009, Remington-Hobbs said he believes that uncertainty will continue to drive gold prices.
"I think there's a strong chance that gold will get close to touching $1,300 [per ounce] in the next month or two, actually," he said.
Gold prices have climbed 26% over the last 12 months. But in actuality, prices are a far cry from their true record, when adjusted for inflation.
Gold hit its true peak on Jan. 21, 1980, when it rose to $825.50 an ounce. Adjusted for inflation, that translates to an all-time record of $2,184.08 an ounce, in 2010 dollars. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
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| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
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| Treasuries | 1.73 | 0.00 | 0.12% |
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|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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