Gold price soars to record high again

The price of gold hitrecord highs for the sixth session in a row, bolstered by continuing unrest in the Middle East, fears of a sovereign debt crisis in the euro zone and the weak dollar.

The spot gold price hit an all-time high of $1,512.50 an ounce before easing slightly. The price of silver also rose, reaching its highest level for 31 years. The value of silver has rocketed by just over 50 per cent this year, outpacing gold, which has increased by 6 per cent over the same period.