The gold price hit a record $1,672 per ounce Wednesday morning in London - a 2.7% rise from last Friday's close. The gold price at the London Fix meantime also hit four records in all three currencies - the dollar, euro and pound.
The gold price surged to $1,550 per ounce in London - up 4.2% from the start of last week - while stocks and commodities fell and US Treasury bonds gained after the European Council called a crisis meeting to discuss Italy's sovereign debt.
The price of gold bullion rose above $1,545 per ounce Tuesday morning London time - just over 2% shy of last month's record high - as stocks and commodities also rose. At Tuesday morning's London Fix, the pound sterling price set a new record.
Gold prices traded in a tight range around $1,537 per ounce Monday morning in London while stocks and commodities fell and US Treasury bonds rose after eurozone finance ministers delayed a decision on financial aid for Greece.
The commodity super cycle is still intact and should remain dominant for another twelve to eighteen months. There will be periodic monetary tests from China, but none from the old industrial countries until late 2012 or 2013.