Gold Price Sets New Record Surpassing $4100 Mark

The price of gold has set a new record, surpassing the $4100 mark, reports Reuters. As of 05:21 GMT, the price of gold has increased by 1.7%, reaching a record high of $4,179.48 per ounce.

It is noted that the price of gold has risen by 57% since the end of last year. This new record price for the precious metal is attributed to the outlook of interest rate cuts by the U.S. Federal Reserve, as well as a new wave of tension in U.S.-China trade relations.