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 | $1000 - what a gold rush |  |
 | The price of the precious metal has climbed above $US1000 an ounce for the first time and many experts predict it will keep rising.
But that does not mean it's time to sell all your jewellery for a handsome profit or start buying gold bars to store under your bed.
For starters, a typical 1kg gold ingot will cost you more than $37,000, and if burglars found one in your house they could use the dense metal as a weapon.
Gold hit $US1001 an ounce in offshore trading early yesterday, boosted by gloom in global financial markets, a weak US dollar and supply issues.
Seen as a haven in times of economic turmoil, gold has been marching upwards since 2001, when it was just $US258 an ounce.
Savings & Loans Credit Union chief economist Tony Fioretti said while jewellery was generally not heavy enough to reflect gold's gains, other gold investments had benefited from uncertainty in global financial markets.
"Gold will probably head a little higher, but how high it goes is hard to say," he said.
Stockbroker Wesley Legrand said the world's biggest gold producers had signalled the price was heading higher because they were spending millions of dollars cancelling their forward sales contracts so they could sell their gold at its current and future price instead.
Global gold production has not been enough to meet rising demand, particularly from India -- the world's biggest gold consumer -- and elsewhere in Asia.
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