Soaring oil prices and weak dollar have caused the price of gold to spiral to new record high, ever witnessed during the past 27 years.
The precious metal was traded at a peak of $794.70 per ounce in the London market, the highest price since January 1980.
Since gold price moves in tandem with oil prices, as the US dollar slides, investors often purchase gold as a protection against economic trouble, political turmoil and inflation hedge.
Meanwhile, the euro surged to another record high against the dollar, since its float in 1999, to reach $1.44 on Monday.
Also, oil prices hit a historic new high of $93 per barrel for the first time due to concerns over supply shortages.
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