NEW YORK—Gold prices bolted above $1,000 again on Friday, hitting a new record after a liquidity crisis at Bear Stearns Cos. rattled Wall Street and fed buying of safe-haven investments.

Other commodities traded mostly lower, with crude oil, copper and agriculture futures falling.

Following weeks of flirting with the $1,000 mark, gold finally breached the milestone Thursday after the dollar plunged against rival currencies. The dollar hit a record low Friday against the euro, which bought as much as $1.5687. The greenback’s fall has been a major driver of gold because i...

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