Sydneysiders have been spotted queuing outside gold dealers as the price of the precious metal surged to a record high.

Gold dealer ABC Bullion in Sydney's Martin Place, in the CBD, attracted a huge crowd on Thursday, with Aussies patiently queuing outside the building throughout the morning.

Similar queues were seen on Wednesday with a crowd of largely retirees and families spotted waiting by the entrance, with the line persisting throughout the day and into the afternoon.

The price of gold has surged to a record high of about $US4,000 per ounce and is perceived as a stable choice for investment amid market volatility.

Alister Berkeley, managing director of Berkeley Advisory , noticed a "ten-deep queue at 8am" outside his Martin Place office on Thursday.

"Queues like this signal a

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