Gold hits record high as haven demand rises and dollar slips – The National

Gold hits record high as haven demand rises and dollar slips – The National

Bullion climbed to $1,923.20 an ounce on Monday, topping the previous high set in 2011, and could reach $2,000 in the next 12 months





























Gold bars are displayed at South Africa's Rand Refinery in Germiston. The precious metal rallied to a new record and may climb further, according to Goldman Sachs. Reuters











Spot gold hit a record as the dollar plunged and concerns about the global economy boosted demand for havens.



Futures also touched a high as a contract roll provided a further boost to its rally.



Bullion's move came as a gauge of the dollar fell to its lowest in more than a year amid negative real rates in the US and bets that the Federal Reserve will keep its monetary policy accommodative when it meets this week.



Inflows into gold-backed exchange traded funds this year have surpassed a record set in 2009, with total holdings at a high of more than 3,300 tonnes.



Spot gold climbed to $1,923.20 (Dh7,063.91) an ounce, topping the previous high of $1,921.17 set in 2011.



Futures also touched a record on Monday and traded at