Newly cast ingots of 99.99% pure gold are stored after weighing at the Krastsvetmet non-ferrous metals plant, one of the world's largest producers in the precious metals industry, in the Siberian city of Krasnoyarsk, Russia. – REUTERSPIXGold soared to a record high today as a weakening dollar, falling returns on US bonds and a break above historic resistance at US$2,000 an ounce added momentum to buying by investors seeking a safe store of value.
Breaking above US$2,000 for the first time on Tuesday and hitting a new high of US$2,044.34 an ounce earlier today, spot gold was up 1.1% at US$2,041.09 by 1337 GMT. US gold futures climbed 1.7% to US$2,055.30. Inflation-adjusted US 10-year yields have fallen to below minus 1% from 0.15% at the start of this year.
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