Gold price rises as people seek 'alternative assets'

The price of gold has risen as people look for “alternative assets”, says Sky News Business Editor Ross Greenwood. “The continuing increase of interest rates is supposed to actually quell demand and not have record prices," Mr Greenwood said. “But people are out there on a buying spree at the moment for all these things in anticipation that interest rates will be cut. “The stock market, even though it’s down one per cent over the week, has been at all-time record prices – yesterday closed close to it. “The gold price again, overnight ... up almost 17 per cent – people feel inflation might stick around, they’re looking for alternative assets rather than that record stock market which they’re getting concerned about."