Gold price extends its record-breaking run

Spot gold hit an all-time high of US$2,069.21 per ounce and was up 0.8% at $2,055.87 at 2:10 p.m. EDT (1810 GMT). U.S. gold futures settled 1% higher at $2,069.40. Gold has rallied more than 35% this year as it is considered an asset that should hold its value while the pandemic and money printing by central banks erode the value of others.

NEW YORK: Gold extended its record-breaking run on Thursday, driven by expectations of more monetary response as surging virus cases continue to pummel the U.S. economy.

Spot gold hit an all-time high of US$2,069.21 per ounce and was up 0.8% at $2,055.87 at 2:10 p.m. EDT (1810 GMT). U.S. gold futures settled 1% higher at $2,069.40.