Gold hits all-time record above $US2,100 an ounce

Ounces
GBP USD EUR
Gold £1,626.18 $2,059.74 €1,896.16
Silver £19.87 $25.17 €23.17
Platinum £731.09 $925.95 €852.65

Gold set a new all-time record price above $US2,100 an ounce as investors were encouraged by forecasts of imminent US interest rate falls and as gold is used as a haven from the crisis in the Middle East.

From Saturday, gold climbed around $100 an ounce and gained 5.7 per cent when Asian markets opened today.

It touched a high point above $2,150 an ounce.

Gold has climbed by 14.2 per cent in the past year, which also catapulted the price of Australia’s major gold shares.

Gold companies have been some of the top performers on the ASX 200 all year, with Westgold Resources up 155.3 per cent, Resolute Mining 152.8 per cent, and Ramelius lifting 76.77 per cent.