Gold Prices rising as US dollar declines

The uncertain nature of the US dollar is causing more investors to turn to Buying Gold, it has been claimed.

According to Proactive Investors, a UK-based news hub for investors, there is currently high demand for the precious metal and it is likely to see new price highs in 2010.

It noted that gold "is increasingly seen as a currency hedge and has recently benefitted from heavy safe-haven buying".

A number of investors have predicted that Gold Prices will reach record levels in US dollars during 2010, the yellow metal having already done so recently both in terms of pounds and euros.

City AM recently reported that demand for gold is likely to remain high for some time as a result of the continued presence of sovereign risks and US dollar weakness.

Simon Denham, of spread-betting provider Capital Spreads, told the news provider: "Any further strong economic numbers, particularly from the big emerging economies, could help to support gold and bulls will be eyeing another run at $1,200 at some point this year."

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