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| Gold price rises above $2,000 for first time | |
| (about 1 hour later) | |
| Gold has topped $2,000 (£1,527) an ounce for the first time as traders look for havens amid the pandemic. | Gold has topped $2,000 (£1,527) an ounce for the first time as traders look for havens amid the pandemic. |
| Investors have moved cash into the precious metal as Covid-19 cases rise in the US and more money is pumped into the global economy. | Investors have moved cash into the precious metal as Covid-19 cases rise in the US and more money is pumped into the global economy. |
| The record high gold price has also been driven by concerns over tensions between Washington and Beijing. | The record high gold price has also been driven by concerns over tensions between Washington and Beijing. |
| Prices of other precious metals, including silver, have also risen sharply since the start of this year. | Prices of other precious metals, including silver, have also risen sharply since the start of this year. |
| The price of gold has increased by more than 30% this year as coronavirus cases continue to rise in America, causing dozens of states to halt or reverse their plans to reopen. | The price of gold has increased by more than 30% this year as coronavirus cases continue to rise in America, causing dozens of states to halt or reverse their plans to reopen. |
| The rapid rise in cases, which has dented hopes of a swift US economic recovery, has also helped to drive up the price of silver by around a third this year. | The rapid rise in cases, which has dented hopes of a swift US economic recovery, has also helped to drive up the price of silver by around a third this year. |
| Among the reasons for those rises is investors preparing themselves for a possible pick-up in inflation due to the impact of trillions of dollars of stimulus from governments and central banks around the world. | Among the reasons for those rises is investors preparing themselves for a possible pick-up in inflation due to the impact of trillions of dollars of stimulus from governments and central banks around the world. |
| In Washington, Trump administration negotiators have said that they will work "around the clock" with Democrats as they attempt to strike a deal on more economic relief measures by the end of the week. | In Washington, Trump administration negotiators have said that they will work "around the clock" with Democrats as they attempt to strike a deal on more economic relief measures by the end of the week. |
| According to Bank of America, governments around the world have already announced approximately $20tn worth of stimulus to combat the economic impact of the pandemic. | According to Bank of America, governments around the world have already announced approximately $20tn worth of stimulus to combat the economic impact of the pandemic. |
| Some investors see the fallout from the Covid-19 crisis, along with ongoing tensions between the US and China, continuing to push up the price of gold. | Some investors see the fallout from the Covid-19 crisis, along with ongoing tensions between the US and China, continuing to push up the price of gold. |
| Market strategist Margaret Yang says she sees potential for bullion to continue rising in the coming weeks and months: "The mid-to-long-term prospect of gold and other precious metals remains bullish against the backdrop of low interest rate environment and fiscal and monetary stimulus." | Market strategist Margaret Yang says she sees potential for bullion to continue rising in the coming weeks and months: "The mid-to-long-term prospect of gold and other precious metals remains bullish against the backdrop of low interest rate environment and fiscal and monetary stimulus." |
| Peter McGuire from XM.com said he sees gold reaching "$2,200 by Christmas" with silver, platinum and palladium also set to see strong gains. | Peter McGuire from XM.com said he sees gold reaching "$2,200 by Christmas" with silver, platinum and palladium also set to see strong gains. |