Gold price reaches new record

Oil and gold prices continue to rise and fall like a roller coaster, with the latest predictions indicating that oil prices could top one hundred dollars a barrel this winter. Meanwhile, gold reached a 25-year record level of 665 dollars a fine ounce in London on Wednesday. Analysts say this is due to the uncertainty of the availability and price of oil. More and more investors are turning to gold as a safe haven for their money. The flurry in the gold price was caused mainly by a statement by Iran's deputy oil minister Nejad Hosseinian who indicated that crude oil prices are likely to top the 100 dollar mark this winter. Crude oil prices have been hovering at levels exceeding 70 dollars recently.