Gold hit a new record high of  $1,111.70 and ounce today.  Gold mining stocks also benefited from the current interest in gold.  However, it’s worth recognizing that stocks were also up today.  This points to the fact that the weak dollar is the main reason for the surge in gold and other asset classes.

There is also a believe in some quarters that China may pass on buying gold from the IMF. This is a significant consideration when looking to future Gold prices.  In an interesting article by Peter Koven this is highlighted in greater detail.
All in all, it seems that the two main questions that relate to gold’s current rally are
1) What is the Dollar going to do?
2) What are the central banks of the world going to do?