Gold advanced to a fresh record beyond $2,000 an ounce as investors assessed increased geopolitical risks and the prospect for further stimulus to combat fallout from the coronavirus pandemic.
Bullion is up almost 35% this year, with its haven status enhanced by sliding U.S. real yields. Gold could extend gains as governments and central banks respond to slowing growth with vast amounts of stimulus. The metal’s appeal is strengthening as the dollar weakens and a long global recovery looms. Goldman Sachs Group Inc. forecasts a rally to $2,300.