The only bullion to gain was Palladium, up by six, while world gold prices dropped overall.  For the day, though, and if you’re a gold investor, you don’t think about just today.

Until this week, gold’s highest point was just under $1,000 at the end of February and the trend, while it fluctuates on a daily basis, is overall definitely on the upward cycle.  The gold price per ounce has risen by nearly $20 in only about six months, so upward is definitely the way it’s been headed overall.

In fact, over a ten year trend, gold has never risen this high and stayed high for so long.  Back in 2006, you may recall, the gold price US Dollars jumped for a week or two in March (which it often does with the new futures index release), and then dropped back to its previous gold price USD before beginning a steady climb upwards again.

This latest spike is only one of several as gold continues to rise very quickly.  In November of 2007, the gold price per ounce was around the $650 and it’s risen steadily since, spiking in December 2007, several times in 2008 before a short-lived, but surprising dip in late 2008.

Overall, however, the trend has been ever-upward.  Analysts like Joe Battalia are predicting that it will be over the $1,200 mark before February of 2010 with a steady rise until the Dollar’s begins to deflate, which the Fed has shown no sign of attempting in this low economy.