Gold price hits record high as investors seek safety

Gold bars pile isolated on white background. Financial success, business investment and wealth concept. 3D illustration. [Courtesy, iStock]

The price of gold has hit a record high as demand for the precious metal remains strong amid global economic uncertainty.

The spot gold price hit $3,508.50 per ounce early on Tuesday, continuing its upwards trend which has seen it rise by nearly a third this year.