Gold rose to record highs on Monday above $1,140 an ounce as the dollar extended losses, increasing bullion's appeal as a hedge against the falling U.S. currency.

U.S. December gold futures were up $22.70, or 2 percent, at $1,139.50 an ounce at 1:48 p.m. EST (1848 GMT) on the COMEX division of the NYMEX. The record high was set at $1,140.70 an ounce.

Spot bullion was $1,138.70 an ounce, up from its previous finish of $1,118.50.

(Reporting by Frank Tang)