THE SUDDEN INCREASE IN GOLD PRICE MAY HAVE BEEN ATTRIBUTED TO THE WEAKENING VALUE OF THE USA CURRENCY THE AMERICAN DOLLAR, BESIDES THE RISING COST IN GOLD MINNING AROUND THE WORLD.

Sudden increase in gold prices in the world markets have been recorded for the first time in decades. The current gold price of 1,275 US dollars an ounce has been projected to hit 1300 US dollars by the year's end, or in the next year. This sudden increase in gold price may have been attributed to the weakening value of the USA currency the US dollar that may have obliged market strategists and wealthy business people to protect their wealth from inflation and the devaluating US currency the dollar in secured gold, or in other hard currencies that have survived inflation and the devaluation of currencies in the world markets, besides the rising cost in gold minning around the world.

Written by Godfrey Ohia.