Gold prices surge to record high amid global uncertainty

Gold prices reached a record high on Monday, continuing a rally from last week as uncertainty over the US election and anticipation of Israel’s retaliation against Iran fuelled safe haven demand.

Spot gold prices gained 0.14 per cent at 6:16 GMT to go up to $2,720.25 per ounce, compared to weekend’s closing price of $2,607.82. Meanwhile, US gold futures dropped 0.34 per cent to $2,739.15, compared to Friday’s closing of $2,730.0.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama