Gold has hit a new all-time high of $10.0365 per ounce.

This comes after a record high of around $10 a ounce on August 11 last year.

The price of gold, the US currency, is now up more than 40 per cent since June 12, according to Reuters.

The Gold Rush gold price in the US has been surging ever since the beginning of the year, hitting a record $1,829 per ounce on June 30.

That was the biggest one-day increase since the gold rush in 1794.

Gold has now traded for about 20 per cent higher than the price of the previous highest level of the bull market, at $1.7365 per pound in December 2010.

But the Gold Rush price has been on a steady climb since.

In July last year, it was $1 per ounce, before hitting a high of almost $2.7 per ounce in January that year.

It was a time when the US dollar was still in its infancy.

But since then, the dollar has risen as much as 1.5 per cent, according the New York Fed.

The gold price is expected to fall below $10 per ounce this week.

The Australian dollar has fallen below parity, or being worth less than its purchasing power, at around 6.2 per cent against the US greenback.

Gold prices are likely to be a major driver of the price gains in the weeks ahead.

But there are plenty of other factors to take into account, according Toorak Gold Trader Mike Waggoner.

“The fact that gold is trading so much higher than its prices suggests there’s some real upside for gold as well,” he said.

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