Gold hits record high over $3,000 amid rising geopolitical tensions; Pound at $1.30 against weakening US dollar – business live

Rolling coverage of the latest economic and financial news, as gold hits $3,027 per ounce

Gold is continuing to hit new heights this morning – it’s now trading at $3,027 per ounce.

“In the current environment, every day seems to offer a new catalyst for the gold price,” comments Kathleen Brooks, research director at XTB.

In uncertain times, central banks and individuals demand gold, while inflation concerns emanating from President Trump’s tariffs and trade war are also boosting the price of gold.

Life above $3,000 per ounce could be the norm for the gold price in 2025, it is already higher by 15% YTD, easily outpacing gains for global equities.

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