Gold exceeds $1500/oz

Gold prices today powered through the $1,500/troy ounce mark for the first time in more than six years and is close to topping the £40/g (£1250/oz) level. The all-time record price for gold was set in 2011 when it surpassed $1900/oz, however we have not previously seen these high gold prices in pound sterling before due to the weak state of the currency.

The demand for the precious metal has climbed unremittingly over the past few weeks as investors seek a safe haven asset amid growing concerns about a slowdown in the global economy.

The fortunes of silver have similarly improved, with silver increasing by 4% on today's trading alone and passed the £14/oz mark.