Gold has hit a record high, surging over $2,000 dollars an ounce for the first time in history, as increasing numbers of nervous investors seek a safe place to put their money.
Many investors avoid gold because it does not pay dividends or earn interest but its price tends to rise in troubled times because it is seen as a safe haven asset. But like all investments, the value of gold can go down as well as up. The last time we saw a surge in gold prices was during the financial between 2008 and 2011.
The price of gold is rising across all currencies and is €1,700 an ounce, up 28% so far this year.