Connect with us

Hi, what are you looking for?


Gold price hits record high

LONDON, Dec 2 – The price of gold struck a record high level above 1,215 dollars an ounce in trading here on Wednesday.

Gold hit 1,215.85 dollars on the London Bullion Market one day after breaking through the 1,200-dollar barrier for the first time.

After reaching a new high on Wednesday, gold pulled back slightly to trade at 1,210.50 dollars at about 0740 GMT.

Gold has smashed record after record over recent days and weeks on the back of inflationary fears and increasing moves by central banks to diversify assets away from the dollar, which has weakened against the euro and yen.

The yellow metal, whose two main drivers are jewellery and investment buyers, has also won favour in the uncertain economic climate and fears of a mounting Dubai debt crisis. Gold is traditionally viewed as a safe-haven investment.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...