The recent new high in gold prices stood at $1,250 per ounce on Wednesday this week, since it last touched peak of $1,249.7 in May 2010. Gold prices are continuing to attract investor sentiments, following fear of the Greek economic crisis affecting smaller European countries like Spain, Hungary and Portugal. Media reports also state a reference of Britain’s fiscal deficit being “formidable”, raising investor demand for the yellow metal. %% The weakening of the dollar too has affected gold prices. Reports add that the prices in the New York Mercantile Exchange soared for the seventh straight day outstripping $1,225 an ounce .Demand for gold ETFs has increased, while the physical demand has not as much. Also, industry analysts predict the gold price rise could touch $2000 per ounce this year, if the European debt crisis reaches the United States.