Gold prices surge to a record high of $2,000 an ounce for the first time as traders look for places to earn value amid the pandemic.

Investors have moved cash into the precious metal as Covid-19 cases rise in the U.S., and more money is pumped into the global economy.

Prices of other precious metals, including silver, have also risen sharply since the start of this year.

The price of gold has increased by more than 30% this year as coronavirus cases continue to take a toll on business activities in the U.S.

The increase also comes on the backdrop of talks between the Trump administration negotiators and Democrats as they attempt to strike a deal on more economic relief measures by the end of the week.

Some financial analysts have posited that the prices of gold could top out at $2,200 or more by December.

Carol May, Readers Bureau, Contributor

Edited by Jesus Chan

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