Gold's record run faces speed bumps, but new peaks beckon

The momentum propelling gold to a record $2 135.40 per ounce on Monday may fizzle short term, due to uncertainty over the timing of US monetary easing, but wider geopolitical risks should also drive further gains towards fresh peaks, analysts said. Safe-haven inflows driven by war in Ukraine and the Middle East, coupled with bets for a cut in US interest rates - making zero-yield gold more attractive than competing assets such as bonds and the US dollar - have driven a more than 10% rise in bullion prices.