The Gold prices were seen shooting up further to 1045 dollars to an ounce during intra-day trades today. The spike up in gold prices was caused due to the unexpected bank rate hike by the Australian central bank yesterday. The 25 basis point hike was not expected by the global analysts, and the sudden hike is likely to make the US recovery more difficult. And the US dollar lost value against most of the global currencies yesterday due to the Australian rate cut.