Gold surged to a record high above $US5300 an ounce, extending a breakneck rally fuelled by US dollar weakness and a flight from sovereign bonds and currencies.
Bullion rose as much as 2.5 per cent, building on a 3.4 per cent jump on Tuesday (Wednesday AEDT) – its biggest one-day gain since April. President Donald Trump said he was not concerned about a drop in the value of the dollar that has dragged the world’s premier reserve currency to its weakest level in nearly four years.