The price of gold has shot to new record highs against the US dollar, the euro and sterling in recent days as investors seek out a safe-haven from the extreme stock market volatility. While gold ticked $4.90, or 0.39%, lower to $1,238.20 per ounce today, it has remained remarkably resilient despite a renewed interest in equities after the recent sell-off. Manoj Ladwa, senior trader at ETX capital said: 'After recent gains, Gold is having a quieter session this morning. Some investors are taking money off the table today, but by and large, it remains the asset of choice despite economic worries receding.' Richard Davis, a fund manager in BlackRock's natural resources team, said investors in Asia and the Middle East have continued to pile money into gold and that combined with still strong investment demand could support gold prices over the medium-term. 'Further market uncertainty would also help drive prices higher,' he said. And Michael Hewson, analyst at CMC Markets has pointed out there are still many reasons why investors are happy to keep some money in a relatively safe place at the moment. He points out policy moves in Europe and in the UK suggest that rates are going to stay low for some time yet as Europe has begun to buy up assets and the Bank of England has said it is still too early to say the bank won't put yet more money into the economy. All of which also means there remain concerns that sterling and the euro could fall further over the weeks and months ahead.

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