Gold Hits Record High Amid Coronavirus Panic

Coronavirus fears spurs investor scramble for gold as stock markets plunge, but this price surge predates the global health panic

James Gard 26 February, 2020 | 1:10PM

Gold bars

Gold has hit a record high this week as the coronavirus panic has sent investors scrambling for the traditional safe haven whiie stock markets plunge.

The price of gold in sterling is now around £1,279 per ounce, having broken through £1,300 early this week, a new high for the yellow metal. The Royal Mint says it has seen a near five-fold increase in demand for gold bars and coins in just a week.

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James Gard  is content editor for Morningstar.co.uk

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