The price of gold has passed $5,000 for the first time as investors flock to the haven asset amid rising geopolitical tensions.
Gold rose to as much as $5,052 a troy ounce on Monday, extending a rally that drove the price up more than 8 per cent last week, its biggest weekly gain since the global financial crisis in 2008.
A historic bullion rally over the past two years has been driven by a surge of investor interest and central banks seeking to diversify away from the dollar.
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