Gold extended a record rally to soar past $4,300 an ounce for the first time on Thursday, as tensions between the U.S. and China pushed investors

LONDON (Reuters) -World markets found steadier ground on Monday after being whipsawed by broadsides in the U.-China trade war, while gold hit new record highs in a sign that uncertainty remained high.

Doug McIntyre and Lee Jackson discuss the recent surge in gold prices, which have climbed toward $4,000 per ounce after years of steady gains. Lee explains that gold’s rise is being fueled by investors seeking alternatives to an overheated stock market and by heavy buying from central banks,

Gold for December delivery, a most-active contract, was up 2.8% at just above $4,110 per ounce Monday morning, amid lingering concerns about U.S.-China trade tensions and in contrast to the optimism being seen in U.

China aims to become custodian of foreign sovereign gold reserves in a bid to strengthen its standing in the global bullion market, according to people familiar with the matter.

Gold prices are soaring, reaching historic highs as China announces the discovery of its largest gold deposit, potentially holding over 1,000 metric t

"This is now the second instance where markets are trading tariffs as backfiring on the US, not on the rest of the world."