The automotive, housing and retail sectors in the U.S. are suffering record-high losses with plunging sales and income figures. In contrast, gold is selling briskly, with sales 10 times the amount sold 12 months ago, according to Arthur Blumenthal of Stack's, a Manhattan bullion and coin dealer.

In October, right after the global economic crisis broke, gold was selling at $713 an ounce. Since then, the price of gold has climbed to $977.70 per ounce.

Blumenthal explained the resiliency of gold prices to its being viewed by people as a good hedge against economic crises. His prognosis is shared by MFC Asset Management, the fourth largest mutual fund company in Thailand. MFC president Pichit Akrathit told Bloomberg that in the next few years, returns from investing in gold will continue to outpace those placed in equities and bonds.

Pichit said, "Gold has proven for several centuries that the metal is a safe place as a store of wealth during most economic crises."