Gold Climbs to Record on Bank Woes, Fed Bets and Trade Tensions

Gold rose to a record, boosted by concerns about credit quality in the economy, bets that the Federal Reserve will press on with monetary easing and heightened US-China frictions.

Bullion has risen more than 7% so far this week and touched a peak above $4,300 an ounce on Thursday, extending a breakneck rally that began in August. The buying spree has spread to other precious metals, with silver surging to a record above $54.