A record share of the world’s central banks plans to accumulate more gold over the next 12 months, drawn by bullion’s performance during times of crisis and protection against inflation.

"Gold's key advantage is that it is no one else's liability," said Nikos Kavalis, managing director at Metals Focus.

This is an online version of Spencer's Markets A.M. newsletter. Get investing insights in your inbox each weekday by signing up here—it’s free. 📧 An odd thing happened to financial markets when Israe

Gold pushed higher in early Asia trading after US President Donald Trump called for the immediate evacuation of Tehran, boosting demand for havens as investors track hostilities between Israel and Iran.

The announcement represents another chapter in the unprecedented blurring of lines between Trump's personal business interests and his executive authority.

Gold futures pared gains after rising close to a fresh record earlier in the session. Futures were down 0.5% at $3,433.90 a troy ounce, after opening near the record high of $3,509.90/oz. The precious metal rallied on Friday as rising Middle East tensions fuelled safe-haven demand,

The gold price might have peaked with two leading investment banks seeing a fall coming later this year, perhaps by as much as 20%

Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed.