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Gold prices hit record high

Date: 29 July 2020 Tags: World Economy
  • Gold raced to a record high as the US’s deepening Covid-19 crisis sent the US dollar tumbling further and encouraged anxious investors to choose the precious metal as the place to park their cash.
  • The price of the metal, used by investors as a store of value in times of stress, climbed as much as 2.4 percent in intraday trading to a record $1,945.16 a troy ounce.
  • Gold has rallied by more than a quarter this year, making it one of the best-performing mainstream assets, as investors brace for the economic fallout of Covid-19.