Over the past five years the price of gold has risen almost threefold, boosted by demand for safe investments and more recently, increased uncertainty surrounding the future of the dollar.
"As people become less sure about the macro environment, the attractiveness of gold increases," says Stephen Flood, director of Irish bullion dealer gold.ie. "If you want to avoid risk, then it's gold you should be in."
No matter where you look, risk seems to be in abundance at the moment. Interest rates around the world are rising, the dollar is falling and global security issues have never been so prevalent.
Even given the hefty price increases already seen, it appears there is plenty more scope for gold to shine.
After rising as high as $650 an ounce (€495) at the end of last month, commentators are now forecasting further increases, with some speculating that last year's high of $730 an ounce may be tested later this year.
Flood believes there is one other factor that will help boost the gold price and that is diversification.
In today's close-knit global society, risks can come from all directions and there's no doubt that having all your eggs in one basket will be a bad thing.
