Yesterday Gold reached an all-time high of $1,457 per ounce this new high is an increase of more than $16.
 
Gold has been the traditional, solid and safest investments during times of financial uncertainty.
 
It seems that its investor demand that has pushed the gold price to a new record high of $1,457 per ounce – this is a whole $16 more than the previous gold high which was set on March 24 (Resignation of Portuguese prime minister Jose Socrates lifts gold prices to a record $1,447 an ounce).

Marcus Grubb, Managing Director, on the World Gold Council thinks the market was helped by the ongoing increased investor concern over the health of European sovereign debt. With the rating agency downgrades (Portugal being the prime example), where the government bond rating is approaching zero status and zero credibility it looks like significant bond redemptions are imminent.

Gold prices have also risen in line with the price of oil which is mainly due to the current political and economical uncertainty in the Middle East and North Africa.