Gold rose to a record US$1944 an ounce on Monday, eclipsing its 2011 high on fears of another sharemarket correction and a sharp rebound in inflation unleashed by trillions of dollars of monetary stimulus introduced in response to COVID-19.
Investors think the fundamentals are in place for gold to challenge $US2000 an ounce later this year.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
