Gold has passed the $US900 ($NZ1353) mark on the back of investors world-wide seeking a safe haven for cash.
Gold's largest-ever one day gain of $US94.40 was posted on Wednesday, and the price surged almost $US60 yesterday to reach $926 on the Comex division of the New York Mercantile Exchange.
Because of turmoil sparked by major company failures in the US, 49 of the world's 56 major share or commodity markets on Thursday showed falls ranging from 2% to 9%. The Russian sharemarket closed to quell investor concerns.
Analysts have said market volatility was leaving few choices for investors who subsequently "park" their cash in bullion rather than expose themselves to shares.
