The gold price has surged to record highs. What’s behind the move?
The gold price has surged to a new all-time high above US$2,900 (A$4,544) an ounce this month.
It has risen by 12% since the start of the year and clearly outperformed US and Australian stock markets. The US stock index S&P500 is up 4% and the ASX 200 has gained just 2% in that time.
That follows an extraordinary run in 2024, when the precious metal surged 27%, the biggest rise in 14 years.