Gold Breaks Through USD1,200/oz

Gold has hit another all-time high today, breaking through USD1,200/oz for the first time ever, as the dollar resumes it's downwards spiral.

Fund buying has helped drive the yellow metal to new highs, after briefly slumping to around USD1,140/oz late last week on profit-taking and a bought of the Dubai Jitters.

As fears over Dubai World defaults ease, and we enter a new month, the funds are back in. Will it be the ags turn this afternoon?