The uncertainty is looming large for the entire global economy, and the US dollar continues to go down against most of the other currencies. That is in turn forcing investors including big flourishing countries like China and India to seek safer investment areas.
All are lapping up gold like never before in the last few months, and the yellow metal has hit a multi year high almost every week in the last two months. Today it hit a new high of 1163 dollars to an ounce, and expert are predicting it to touch 1200 dollars in the next few weeks.