Just FYI, Geocoder is asynchronous so the accepted answer while logical doesn't really work in this instance. I would prefer to have an outside object that acts as your updater.
var updater = {};
function geoCodeCity(goocoord) {
var geocoder = new google.maps.Geocoder();
geocoder.geocode({
'latLng': goocoord
}, function(results, status) {
if (status == google.maps.GeocoderStatus.OK) {
updater.currentLocation = results[1].formatted_address;
} else {
if (status == "ERROR") {
console.log(status);
}
}
});
};