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W resources plc

Gold price surges to 7.5-year high

Gold prices rallied to a more than 7.5-year high on Monday as investors continued to buy the precious metal amid concerns over the strength of the economic recovery and that unprecedented stimulus would lead to inflation down the road.

Spot gold traded up 0.81 percent at $1,760 an ounce and was on track for its highest close since October 11, 2012. The precious metal has gained 15.83 percent this year.

With worries over North Korea, trade with China and the U.S. election, buyers are keeping “gold on the buy list,” wrote George Gero, managing director at RBC Global Wealth Management and a member of the COMEX board of directors. He pointed to continued buying of exchange-traded funds and the reopening of malls and New York City’s Diamond District.

W Resources Plc (LON:WRES) engages in the exploration and development of tungsten, tin and gold properties.