G20 countries to keep economic recovery pumped up with easy money.

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Gold price hits record high as dollar wanes.

Gold prices hit a record above 1,100 dollars on Monday with the dollar weakening after a pledge by G20 countries to keep economic recovery pumped up with easy money.

The governments of the world's biggest and top emerging economies said in a statement over the weekend that "recovery is uneven and remains dependent on policy support."

The International Monetary Fund meanwhile said on Saturday that emergency stimulus measures must remain to avoid endangering a "nascent" economic recovery.

"An overarching risk is that the recovery stalls" owing to early exits from record-low interest rates and massive state cash injections, the IMF said in a report to coincide with the G20 meeting.

Last week, the US Federal Reserve decided to hold rock-bottom US interest rates for "an extended period" and to keep trillion-dollar stimulus measures in place to support the United States' fragile recovery from recession.

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