Gold hit a new high this week of $1795 as financial stocks worldwide fell in panic after the US credit rating was downgraded from AAA to AA+ at the weekend.
The Fed's announcement that US interest rates are likely to stay at the current near zero levels until 2013 stemmed the falls sparking a modest recovery.
The Gold price is likely to surge ahead on current fears and the Euro crisis with many are expecting $2000 an ounce in the not too distant future.