The global price of gold has reached its highest levels as Chinese investors and consumers, wary of real estate and stocks, buy the metal at a record pace.

Gold remained over Rs 72,000 per 10 grammes on Monday after hitting a record high of 73,958 rupees per 10 grammes in April. Experts say domestic consumption in China, spurred by shaken confidence in real estate and the stock market after a series of scandals,

The global price of gold has reached its highest levels as Chinese investors and consumers, wary of real estate and stocks, buy the metal at a record

Some commentators have spent decades predicting the imminent demise of the US dollar’s special status as the world’s international reserve currency. Eventually, they will be right, and that day may be drawing much closer.