Price of gold at record high

Some have been purchasing gold to protect against losses in their other assets if the US goes into recession.

THE PRICE OF gold has reached a record high – $1,900 an ounce.

The Wall Street Journal reports that gold set new records for four consecutive trading days in the past week.

It notes that some investors are buying gold to hedge against inflation, while others are buying it because of fears the US economy may enter a recession.

With the current political unrest in the Middle East, gold prices have been rising.

Jim Ross, senior managing director and global head of SPDR ETFs at State Street Global Advisors, told the WSJ:

While investors may be using gold to tactically hedge against current market concerns, there is a long-term strategic case for gold in all market cycles.

Read the full article in the Wall Street Journal>

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