Gold price hits record high as investors seek safety

Experts say uncertainty resulting from US policy is making investors seek safer investments such as gold.

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The spot gold price hit $3,508.50 per ounce early on Tuesday, continuing its upwards trend which has seen it rise by nearly a third this year.

The precious metal is viewed as a safer asset for investors during times of economic uncertainty, and its price rose earlier this year after US President Donald Trump announced wide ranging tariffs which have upset global trade.

Analysts say the price has also been lifted by expectations that the US central bank will cut its key interest rate, making gold an even more attractive prospect for investors.

Adrian Ash, director of research at BullionVault, told the BBC's Today programme that the rise in gold prices over the past few months is really down to Trump and "what he's done to geopolitics [and] what he's done to global trade".