Gold prices soared to new heights, surpassing their inflation-adjusted record set over 40 years ago. Spot gold prices hit $3,656.40 an ounce, exceeding the previous record of $3,498.77 set in 1980. The surge in prices comes amid concerns of stagflation in the US economy, with weekly jobless claims reaching a four-year high and headline inflation rising to 2.9%, the highest level of the year. Investors are turning to gold as a safe haven asset in the face of economic uncertainty and rising inflation risks.

Read more at Barron’s: Gold Tops Inflation-Adjusted Peak From the 1980s as Stagflation Risks Mount