Gold prices extended gains on Monday, just $3 shy of an all-time high, driven by U.S.-China tensions and a weaker dollar, while expectations of more stimulus to revive pandemic-hit economies lifted the metal’s appeal as an inflation hedge.
Spot gold was up 0.8% at $1,916.91 per ounce by 0030 GMT, was just $3.39 shy of record high hit in September 2011 at $1,920.30. U.S. gold futures rose 0.8% to $1,913.50.
U.S. Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use “more creative and assertive ways” to press the Chinese Communist Party to change its ways.
Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.