New Delhi, September 11 (Patrika English News): Gold extended its powerful rally, climbing to a fresh inflation-adjusted record above its 1980s peak, as fears of stagflation weighed on global markets.
Spot gold rose 0.1% to $3,656.40 an ounce, surpassing the previous inflation-adjusted record of $3,498.77 from 1980.
The move came after new US economic data signalled mounting stagflation risks. Jobless claims hit their highest level in four years, while headline inflation accelerated to 2.9% — the fastest pace this year.
Analysts say the twin concerns of slowing growth and rising prices are driving investors towards safe-haven assets like gold.