London, United Kingdom (PressExposure) October 08, 2009 -- "Zen International" the Asian-based investment broker apparently believes that the price of gold will continue onwards toward a high of over $1200 before the end of 2009.
The firm issued its latest price target after gold soared through its Â£1033.90 per oz record following the announcement in a prominent UK newspaper, The Independent, which claimed that Saudi Arabian and Chinese sources had confirmed the holding of secret talks between oil producers aimed at replacing the US dollar as the currency in which oil is priced.
Despite vehement denials by other sources, the dollar declined steadily against a basket of the 6 major currencies of the nations with which America does the most trade.
"Zen International" sources suggest that the world is now in the throes of a currency crisis with both the US dollar and the Great British Pound set to be the chief casualties.
The dollar has struggled to rally since staging a mild comeback last week. "Zen International" has often claimed that the currency will inevitably suffer as the US fiscal and monetary policies weigh on its already burdened shoulders.
Gold is part of the basket of currencies that those at the secret talks want to price oil in. "Zen International" sources suggest that this is the most sensible course of action given the slow but inevitable reduction of US economic influence as China powers through its economic slowdown.