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Gold price hits record high as investors seek safety
The price of gold has hit a record high as demand for the precious metal remains strong amid global economic uncertainty. The spot gold price hit $3,508.50 per ounce early on Tuesday, continuing its upwards trend which has seen it rise by nearly a third this year. The precious metal is viewed as a safer asset for investors during times of economic uncertainty, and its price rose earlier this year after US President Donald Trump announced wide ranging tariffs which have upset global trade. Analysts say the price has also been lifted by expectations that the US central bank will cut its key interest rate, making gold ... (full story)
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Gold sailed past US$3,500 per ounce to a record high on Tuesday (Sep 2), as a weaker dollar and mounting expectations of a United States Federal Reserve interest rate cut in September boosted the precious metal's appeal. Spot gold was up 0.3 per cent at US$3,487.55 per ounce as of 6.33am (2.33pm, Singapore time) after hitting a record high of US$3,508.50 ...
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