The price of gold soared today close to a record peak above $1,000 as investors turned to the precious metal due to the tumbling US currency. Gold hit $1,022.72 an ounce on the London Bullion Market, the highest level since March 2008 when it had struck a record $1,032.70. Meanwhile, the euro struck a new nine-month peak at $1.4714 as investors snapped up riskier assets amid mounting hopes of a global economic recovery. The latest moves came after US Federal Reserve chairman Ben Bernanke said that recession in the US 'is very likely over'. A struggling US unit makes dollar-priced gold cheaper for holders of stronger currencies, and therefore tends to boost demand.

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