The current economic climate is nearly perfect for gold trading, an expert has said.
According to the Budapest Business Journal, gold prices are set to finish 2007 at least $100 higher than they were at the start of the year, following a record peak in November.
Dominic McCormick of Select Asset Management said that a number of factors have combined to provide a sound environment for those with investments in gold.
"In many respects, the current environment is almost ideal for gold," Mr McCormick explained.
"We are seeing a continued erosion of confidence in the US dollar, which has been the cornerstone of the world financial system since - and even before - a formal link to gold was cut in 1971."
Meanwhile, Philip Klapwijk of Gold Field Mineral Services suggested that prices could make enough gains in the future to hit $1,000 per ounce during 2008.
Keith Fitz-Gerald, investment director of Money Morning, made a similar prediction earlier this week, indicating that gold prices could reach four figures after seeing a decline next year.