SINGAPORE – Gold surged to a record high above US$5,000 an ounce for the first time on Jan 26, extending a historic rally as investors piled into the safe-haven asset amid rising geopolitical tensions.

Spot gold rose 0.94 per cent to US$5,029.62 per ounce by 11.21pm GMT, while US gold futures for February delivery gained 1.02 per cent to US$5,029.70 per ounce.