Changes in world markets/ Gold price reaches historic record

Gold prices topped $3,000 per ounce for the first time in history on Friday, boosted by demand for safe-haven assets.

Officially at $3,001.08 as of Friday morning, according to Hartford Gold, the record price is the latest in a series of highs the precious metal has seen over the past 14 months. And there are strong indications that the price will rise even further. With a price of just $2,063.73 in January 2024, the metal has gained about $1,000 in price and is up 45% in value, making it one of the hottest assets to invest in right now.

That said, while the new record price may be the headline news, there is a lot to consider for an investment.

Jason Hollands, managing director at Evelyn Partners, a UK wealth manager, described the yellow metal as the "panic asset of choice" and said the recent price surge reflected "the extreme uncertainty facing the global trading system at the moment."

The rise in the price of gold is among several signs that investors are worried about America's economic outlook, former Treasury Secretary Larry Summers told CNN on Friday./CNA 

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