Proactive Investors - Gold climbed to yet another record high on Monday as the yellow metal moved further on from US$2,700 an ounce mark.
Having surpassed the mark for the first time on Friday, the spot price of the yellow metal climbed further as this week’s trading got underway, gaining 0.2% to reach US$2,727.
A peak at US$2,733 earlier on in the morning had seen gold hit another record, leaving gains for the year at almost 38% so far.
Tensions in the Middle East have buoyed the price of gold, with ever-growing attention on November’s US presidential election providing upward pressure most recently.
“It is hard to see this dynamic changing substantially over the next couple of weeks,” ING Think economists commented.