Gold price surges to record high of more than $1,926 per ounce on jitters over pandemic, economic recoveries

NEW YORK (AP) — Wall Street is in the throes of a gold rush, as investors drive the price of the precious metal to new heights. The price of gold has climbed nearly 27% this year, more than double the return of the largest U.S. bond funds and towering over the roughly 1% return of big U.S. stocks. The biggest reason for the surge is fear surrounding the pandemic. No one knows how many people the new virus will ultimately kill _ or how much of the world’s economy it will destroy. That sways investors toward the metal that has long been considered a safe haven for wealth in turbulent times.