Gold bullion hits record high in U.S. dollars, euros, pound, yuan

New York - During the morning's trading session, gold bullion hit a record high of $1,254USD before contracting a bit to $1,244USD. Experts believe that investors fear the world could slip back into negative territory.

One ounce of gold bullion continues to make record strides as fears about the U.S. dollar; the euro and global markets force investors to find a safe haven, which are usually precious metals such as gold and silver bullion. On Tuesday, gold hit another record high by hitting $1,254.50USD before sliding down ten dollars to $1,244.50USD, according to CNBC. In the last 52 weeks, gold spiked from $909.50USD to $1,254.50USD. The Wall Street Journal Market Watch reports that gold bullion hit record highs in a basket of currencies, including the U.S. dollar, the euro, the British pound, the Chinese Yuan, the Indian rupee, the South African Rand and many others. Analysts, such as Frank Lesh, a broker and analyst at FuturePath Trading, see gold continually being the safe play because of constant media reports regarding sovereign debt problems in a different country every week. The California State Teachers Retirement System (CSTRS), according to Reuters, has decided to invest in commodities. The CSTRS is the number two U.S. pension fund. Investors were quite excited about the investments into oil, grains and precious metals. One ounce of silver bullion is trading at $18.35USD, while platinum has a market worth of $1,523.90.