Company insolvencies in England and Wales higher in past year than during financial crisis; gold hits record highs – as it happened

Company failures dip in July, but over the last 12 months are higher than in 2008-09

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The spot price of gold is continuing to climb - and just hit $2,520.67 per ounce....

Update: Hang on, make that $2,521.36.... the rally continues....

One of the main drivers behind this historic surge has been the expectation of a more dovish monetary policy from the U.S. Federal Reserve. With the possibility of further interest rate cuts and increased quantitative easing, financial markets have responded predictably, driving up the price of safe-haven assets like gold. The prospect of a weakened dollar has made gold more attractive to both domestic and international investors.

Additionally, instability in geopolitically sensitive regions, such as Ukraine and the Middle East, has significantly contributed to this rise. Ongoing tensions in these areas have created an environment of uncertainty, leading investors to seek refuge in gold, considered a safe asset in times of crisis. Geopolitical instability has acted as a catalyst, further boosting the demand for this precious metal.