Gold hits new record high over $2,000 per ounce – business live

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Rolling coverage of the latest economic and financial news

7.35am BST

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

The gold price has surged to new record highs this morning, amid anxiety over the Covid-19 pandemic, geopolitical jitters, and predictions that money-printing policies will drive inflation up.

Concerns remain around a second wave in Europe as daily case growth has started to accelerate from shallow levels in most countries. However, the levels are nowhere near that seen in the US, which is now on a downward trajectory.

Still, markets fear a second Covid-19 surge into winter (northern hemisphere), and the associated rise in volatility still favors gold as a defensive strategy.

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