The glitter of gold continues whether there is global prosperity or global misery. The Gold price per ounce was only at 700 dollars a year back, but the price has zoomed to 1050 dollars this week, due to increased demand from countries and also individuals.
China has been buying huge quantity of Gold in the last 15 months, and has since then doubled the gold inventory. Similarly there are many countries which have started buying up gold to shore up their reserve position, due to the global meltdown.
At 1050 dollars, the Gold prices have risen over 50% in the last 12 months, and experts are predicting it to go past 1500 dollars within the next 12 months. That is another 50% hike indeed.