For the first time since March, the price of gold per ounce has reached $1000. The move could be seen as a sign that investors believe the worst of the global recession is over. Others are less convinced about the strength of the recovery are moving into gold, which is usually sought a safe-haven from economic turmoil.

During times of inflation gold is an attractive commodity, it has risen 13.6% in the previous 12 months. This could be viewed two ways. Optimism would have us see it as a sign of recovery, getting out of the recession.

If you see the glass as half full, buying gold bullion coins coins now will be cheaper than when their value rises too high. Selling them in the future will give you a profit on your investment. Or, you could sell any gold bullion coins you have now and get a good price for them.

Or, because gold is often used as a wealth protector in times of economic downturn, its higher value could be seen to indicate that people are moving into gold in case currencies fall. This can be seen as the US dollar which normally moves in the opposite direction to gold, has been declining during that same time.

The higher gold prices has been caused because investors and institutions are not certain which way the economy is going. Traders are seeing safety in gold and governments are protecting themselves with higher gold reserves.

There are questions circulating over the health of the world’s economies, where interest rates are heading is one of them. This has led to stock piling and hoarding of gold.

Gold reached an all-time record of $1,032 an ounce in March 2008. The price of gold has not reached $1000 since March 2009.

Troy ounces is the measurement used to measure gold. One ounce is equal to 31.1035 grams or 480 grains. In the UK and US, avoirdupois ounces are used as measuring weights, with one troy ounce equal to 1.09711 avoirdupois ounces.