Gold prices touched a new high of 1,272 US dollar an ounce today as investors looked for safe heaven amid uncertainty in global economy.The metal in spot trading surged by 26 US dollar to an all time high of 1,272 US dollar an ounce in New York and London.The gold in futures trade set new a record of 1,272.40 US dollar an ounce surpassing its previous record of 1,266.50 US dollar on June 21. Gold got a boost after US President Barack Obama last week said that the economic recovery has been painfully slow.Meanwhile, the Federal Reserve and the European Central Bank have kept benchmark lending rates at the lowest ever level to revive the economy.