Gold Finishes at New Record High

Gold prices settled higher on Tuesday after recovering from brief losses, achieving a new record high closing level for the third consecutive session.

Concerns regarding the COVID-19 pandemic, as reflected by the decline in the US consumer confidence index, have spurred demand for safe havens.

Gold futures for August delivery increased by $13.60 or 0.7% to settle at $1,944.60 per ounce.

Earlier today, the yellow metal was trading as high as nearly $1,975 per ounce.