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Gold to new record high

ByVictoria

Gold surged above $3,400 to a record high on Monday, as the dollar weakened and uncertainty over the economic impact of U.S.-China trade tensions spurred demand for safe-haven bullion.

Spot gold rose 2.6% to $3,415.24 an ounce at 10:46 a.m. ET (1446 GMT). Prices hit a record high of $3,424.25 earlier in the session.

U.S. gold futures rose 3% to $3,426.30.

“As tariff tensions continue to move at a fevered pitch, we continue to see gold prices move to the upside as a safe haven response,” said David Meger, director of metals trading at High Ridge Futures.

Source – Reuters

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    South African rand – is the official currency of South Africa. 1 South African Rand is $0.055 USD.