Gold price shoots up

The gold price has hit a new high in the international market, making the sixth consecutive day on the rise.

The US-China tension and the fall in the value of the US dollar have caused an increase in gold prices in the international market. The Spot gold has reached  £1, 505 (1, 928 US dollars) per ounce an increase of 1.5 per cent.

The price of gold and other precious metals shot higher, lifted by robust demand for haven assets and shortage of precious metals remaining from shutdowns at major refineries. Prices of silver, platinum, and Palladium all rose by 7.6 per cent and Gold are more than 30 per cent from a low hit last April.