Russian gold miner Petropavlovsk sees long term global economic uncertainty pushing gold prices to new records of $2,500 an ounce by the end of 2012, Chairman Peter Hambro told Reuters on Thursday.

Gold has hit a series of records in recent weeks as investors pile into the traditional safe haven to escape severe volatility on global stockmarkets.

I've said for a long time that gold would reach $2,000 by the end of this year and I don't see any reason why it should go down. It could be $2,500 by the end of next year, Hambro said.