from press tv: The depreciating US dollar and investment fueled by economic doubts has pushed gold prices to new high records of over $910 per ounce.
The precious metal surged to a record $914.10 per ounce on Monday morning, reported CNN Money.
Meanwhile, gold hiked in line with crude oil price and its appreciation increased as a hedge against inflation.
The metal has turned into the ‘third reservable (asset) currency in the world, following the US dollar and the euro,’ said the editor of a daily trading note, Dennis Gartman.
Investors are keen to buy gold as a store of value or as an asset that can be cashed in times of trouble to cover losses.