Gold price jumps above $5,300 on dollar weakness

Gold prices soared past $5,300 an ounce for a new record on Wednesday amid weakness in the US dollar, driving investors further away from currencies and into hard assets.

Spot gold jumped more than 2% to $5,311.29 per ounce, building on a 3% gain from the previous session. Year to date, the metal has risen by almost 20%, a pace that would easily best last year’s performance (65%).

Live Gold Price Chart and Real-Time Updates

Growing concerns over the value of US dollar...