The price of gold surged to the highest point for a quarter of a century this evening, supported by the weaker US dollar and rising concerns over Iran.
The price of an ounce of gold reached $665.65 on the London Bullion Market - striking its best level since October 1980.
A weaker US currency makes gold, which is priced in the dollar on world markets, more attractive to buyers using other currencies. Gold is also boosted by its safe-haven status amid heightened tensions between the US and Iran.
With current high crude prices raising fears about inflation, the precious metal is regarded as a good store of value.
