Gold price jumps above $5,000 an ounce for first time amid Trump turmoil

Investors seek safe haven in precious metal, while Japan's government spooks money markets with tax-cuts pledge

The price of gold has jumped above $5,000 an ounce for the first time as Donald Trump's chaotic policies and proclamations drive more investors to seek safe harbour in the precious metal.

Gold reached a record high of $5,100 (3,723) on Monday morning, before easing back to settle up 2.2% at $5,091.