Gold is poised for a record run. So says The Financial Times in its recent report by Kevin Morrison. The news regarding gold's bright prospects comes from an annual survey issued by metals consultancy group GFMS, which sees a renewed attack on last year's high above the $700 an ounce mark.

Here's an excerpt from FT's article, "Gold poised for record run":

Gold prices could exceed last year's 26 year high of $730 an ounce within the next 12 months due to a weaker dollar, rising geopolitical tensions and an investment led rally, according to the annual survey by GFMS, the metals consultancy.

GFMS said given the general favourable backdrop and the still low level of participation form institutional and private inventors in most countries, there remains considerable upside potential for gold even as the current rally enters its seventh year.

The GFMS survey highlights the role of investment demand in keeping gold prices high. Jewelry demand for gold is said to be down 30 percent from its peak levels back in 1997, but judging by the entries in a recent jewelry design competition in Asia, gold and gaudy are in. Noone's skimping on the metal in these designs.

Also, we see continued emphasis on the role that a weak dollar is playing in gold's price rise, but scant mention of the fact that gold is rising in terms of all fiat currencies. This has been true for over a year now, and in some cases the trend started even earlier.

Thankfully, FT's report on the GFMS survey makes note of these facts:

Gold also appreciated in other currencies too, with a 34 per cent gain in South African Rand prices, a 21 per cent rise in the yen gold price and a 8.7 per cent advance in the Euro gold price.

The trend is clear. Look at worldwide money supply growth figures and you will see that they are rising across the board. The US dollar is not the only currency base being inflated. Gold is rising against most currencies to reflect these trends. Savvy investors and savers in every nation should be cognizant of this reality.