Considered a safe haven asset, the international gold price has broken the record it reached almost a decade ago due to rising tensions between the U.S. and China.
The price of gold stood at around 18-hundred 97 U.S. dollars an ounce on Friday, a point-four-percent jump from the previous day.
This easily suprassed the all-time high of around 18-hundred 92 reached in 2011 in the wake of the financial crisis.
With Washington and Beijing engaging in tit-for-tat consulate closures in Houston and Chengdu, the price in the market soared to almost 19-hundred and six.
Watchers say gold could reach 2-thousand dollars an ounce if the number of COVID-19 cases continue to rise and stalls economic recovery.