Spot global gold prices touched on a record $US1364 ($NZ1820) in New York as jittery investors reacted to the weakening US dollar and more money-printing by the US Government to boost the economy after weak economic data.
The resilience of gold and many precious metals, including silver, palladium and copper, are showing no sign of abating, with prices continuing to climb, Craigs Investment Partners broker Peter McIntyre said.
While local investors were beginning to question gold's continued climb, Mr McIntyre said all signs pointed to it continuing toward the $US1600 mark by the end of the year.
By comparison, 10 years ago to the day, gold was at $US272 per ounce, he said.
Investors continue to look to gold producer stocks.
Shares in East Otago-based Oceana Gold recovered some losses after last week successfully raising $151.5 million through a capital raising on the Toronto Stock Exchange, where the triple-listed company is principally listed.
Its shares were trading around $5 at the time of the announcement and dipped to $4.84, but by yesterday had recovered to $4.90.
Some of the capital raised will be used to reignite development of its mothballed Didipio gold and copper mine in the northern Philippines.
