Gold Surges to Record as Week Opens With Spot Price Near $2,000

Gold’s spot and futures prices opened the week by hitting records, with metal for immediate delivery closing in on $2,000 an ounce as the search for haven assets continued amid the coronavirus pandemic. Spot bullion surged 11% in July, the biggest monthly gain since 2012, as investors weighed a weaker dollar and record low U.S. real yields. Strategists are now considering alternatives to government debt, such as cash, credit, dividend shares and gold.