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Gold rally hits fever pitch as investors eye $US3000 price tag

Alex Gluyas
Alex GluyasMarkets reporter

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The blistering rally in gold and silver has reached fever pitch as escalating tensions in the Middle East and a tight US election prompts more investors to pile into this year’s already top-performing commodities.

Bullion surged above $US2700 an ounce last week for the first time, extending its gain this year to 31 per cent. The gold price in Australian dollars also hit a record, punching through $4000 an ounce.

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Alex Gluyas is a markets reporter based in our Melbourne newsroom. Connect with Alex on Twitter. Email Alex at alex.gluyas@afr.com

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