The price of gold has surged to a record high of $3,508.50 per ounce as global economic uncertainty drives investors to seek out the precious metal as a safe haven asset. The consistent rise in price has been significantly influenced by US trade policies and expectations of interest rate cuts.

• The spot gold price reached $3,508.50 per ounce on Tuesday, increasing by nearly a third this year.
• Adrian Ash, director of research at BullionVault, attributes the rise to US President Donald Trump’s impact on geopolitics and global trade.
• Concerns over the independence of the US Federal Reserve are also driving interest in safe-haven assets like gold, according to Derren Nathan from Hargreaves Lansdown.