Australians loaded up on gold investments last week amid a historic exodus from the US bond market, adding fresh thrust to the precious metal’s record rally that could send prices soaring to as much as $US4500 an ounce.
The commodity, which typically rallies during times of uncertainty, surged 7 per cent last week to a fresh peak above $US3245 an ounce as investors around the world dumped US haven assets such as Treasuries and the greenback, amid a dramatic erosion of faith in the stability of the world’s largest economy.
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