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Gold price continues to surge past previous record high

The price of gold has seen something of a spike in recent weeks, with experts now asking whether it can top the fabled $2,000-per-ounce (£1,558) mark.

The Telegraph reported last week that gold prices were approaching levels not seen since the 2011 record high of $1,921 (£1,496).

It also suggested that Edward Morse, global head of commodity research at Citigroup, believed there was a 30% chance of the gold price topping $2,000 within three months.

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Now, financial experts are reporting that gold prices jumped 1.55% to hit a new record of $1,926.85 (£1,500) in the early hours of this morning.

The milestone comes after many other currencies hit the record in recent months.

This news comes amid general financial panic across most industries, induced by the coronavirus pandemic and subsequent lockdowns.

It is not unusual for gold prices to spike while other markets struggle. A similar surge in 2016 coincided with Donald Trump’s victory in the presidential race. Read more below:

Gold price spikes and dollar weakens as Trump claims presidential victory

Tags : Donald TrumpGoldGold pricegold prices
Sam Lewis

The author Sam Lewis

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