The price of gold surged above US$4,100 (Rs 3.6 lakh) an ounce (28.4 gm) for the first time, taking this year’s rally to more than 50 per cent. While economic uncertainties from growing government debt levels, and the current US government shutdown are said to be somewhat responsible, a soaring demand from gold exchange-traded funds (ETFs) and de-dollarisation by China and Russia are playing a bigger role