Gold Climbs to Record Over $5,100 as Debasement Trade Picks Up

Gold climbed to a fresh record above $5,100 an ounce as geopolitical risks and a flight from sovereign bonds and currencies extended the metal’s rally.

Bullion climbed as much as 3.6% on Tuesday to an all-time high of $5,187.37 an ounce, as the dollar tumbled after President Donald Trump said he was not concerned with a decline in the US dollar. Gold’s advance was its biggest intraday gain since April, and extended gains from the past six sessions. Silver held near a peak after jumping more than 9% earlier.