Gold rose more than 30 dollars (£23.40) on Monday, adding 1.5% after breaking its 2011 record high on Friday.
Prices of gold and silver have jumped as rising infection numbers and job losses in the US and some other economies fuel concern the recovery from the virus and the worst global downturn since the 1930s might be faltering.
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Precious metals, along with bonds, are often seen as stores of value when financial markets decline.
Forecasters watch their prices as an indicator of how investors see the economic future.