Updated on
Summary
Despite the hopes that global recession is coming to an end, gold prices in the international market hit record high at $1133 per ounce and are expected to go up further, reported Dunya News. Gold reservoirs are considered as the best shield against inflation and currencies volatile nature. Due to different apprehensions, big world powers are converting their foreign exchange into gold but still 90percent of total foreign exchange is in American currency. Experts believe that gold buying will increase in coming days and might reach to $1300 per ounce. However there are fears in futures market that like oil prices, gold prices might also go bearish suddenly.
