Gold readies for $1,000 hurdle as fears grow

Gold prices are set to jump toward $1,000 an ounce and probably beyond to record as as droves of investors fearing financial instability and surging inflation pile into the precious metal.Expectations of a weaker dollar, which makes gold priced in the US currency cheaper for holders of other currencies, will also help boost prices of the precious metal seen as a store of value during uncertain times.Strong investor interest in the precious metal can be seen in the record holdings above 867 tonnes of the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust.