The price of gold has hit a record high as demand for the precious metal remains strong amid global economic uncertainty.
The spot gold price hit $3,508.50 per ounce early on Tuesday, continuing its upwards trend which has seen it rise by nearly a third this year.
The precious metal is viewed as a safer asset for investors during times of economic uncertainty, and its price rose earlier this year after US President Donald Trump announced wide-ranging tariffs that have upset global trade.
Analysts say the price has also been lifted by expectations that the US central bank will cut its key interest rate, making gold an even more attractive prospect for investors.
Adrian Ash, director of research at BullionVault, told the BBC's Today programme that the rise in gold prices over the past few months is really down to Trump and what he's done to geopolitics [and] what he's done to global trade.
It was really the US election last year that put a fire under it, he said. Analysts also cite worries over the independence of the US central bank, the Federal Reserve, as another factor driving gold prices.
Trump has launched repeated attacks on the Federal Reserve's chair, Jerome Powell, and recently attempted to fire one of its governors, Lisa Cook.
Derren Nathan from Hargreaves Lansdown stated that Trump's attempts to undermine the independence of the Federal Reserve Bank are driving renewed interest in safe-haven assets, including gold.
European Central Bank President Christine Lagarde warned that if Trump were to undermine the independence of the Fed, it would represent a very serious danger to the global economy.
Mr. Ash added that when gold prices surge due to investor interest, it is usually tempered by a slowdown in buying from China and India, two of the biggest markets for gold jewellery. However, this time, he noted, gold was finding continued demand there as buyers turned towards investment gold products like bars and coins.
