Gold prices extended their extraordinary gains, with bullion prices surpassing their inflation-adjusted record set more than 4 decades ago.
Spot gold prices rose 0.1% on the session to $3,656.40 an ounce, topping the inflation-adjusted record of $3,498.77 an ounce established in 1980.
The gains followed another set of economic data suggesting mounting stagflation risks in the world’s biggest economy. Weekly jobless claims figures were at the highest levels in four years, according to the Labor Department, while headline inflation quickened to 2.9%, the highest level of the year.
