Dubai: Gold zoomed past $2,100 an ounce for the first time, went all the way to $2,143 to set new records for how high the ultimate safe haven asset can reach. For retail gold shoppers in the UAE and elsewhere, it's a time to be on the sidelines until gold prices cool down again.

Currently, in the international markets, gold is trading at $2,087 an ounce, and so some cooling off has happened. "No one can predict what's up next for gold," said Anil Dhanak, Managing Director of Kanz Jewels, who was absolutely shocked by the latest surge pricing. "Gold prices are beyond control for the moment.

"I keep telling all the time - gold buyers will need to adjust their expectations of what the prices would be. And I keep telling them to spend on gold, the one asset where depreciation doesn't come into play. I wish more people would listen - gold is the ultimate safe haven."