Global uncertainty pushes gold past $3,000 milestone

GOLD prices yesterday topped $3,000 an ounce for the first time as investors and central banks continued to pile into the safe-haven asset amid increasing geo-political and economic uncertainty.

- By Ali Lyon

The milestone caps an astonishing rally for gold in recent years, with its price rising more than 50% since the start of 2023 and 30% in the past year.

Bullion climbed 0.4% to hit $3,001.20 at 10am GMT, breaking the psychological barrier of $3,000 for the first time in its centuries-long history as a store of value in unpredictable times.

It has risen 10-fold since the turn of the century, comfortably outperforming the S&P 500 and FTSE 100.