Gold prices zoom to record high as safety rush gathers steam

Gold stormed to a record high today as investors sought refuge from the possible hit to a pandemic-stricken global economy from an escalation in the US-China spat, which pummelled the dollar.

The dollar index hit a two-year low on the US-China tensions and concerns about the US economy as Covid-19 infections show no signs of slowing in the world's largest economy. US Senate Republicans are expected to unveil a US$1 trillion coronavirus aid package. Investors will also eye the Fed's meeting starting tomorrow, where it could flag another accommodative policy shift.

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Gold hits record high as US-China ties worsen, Asia stocks helped by tech | Malay MailTOKYO, July 27 — Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe haven assets, although sentiment was mixed with tech gains supporting some Asian stocks. MSCI’s ex-Japan Asia-Pacific index rose...
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