Record gold prices both boon and burden for London jewellers

In London's famous jewellery quarter Hatton Garden, stores raise their iron shutters to welcome a motley crew of buyers and sellers, as the price of gold reaches record highs.

The price of gold struck 40 record highs last year as global demand reached an all-time peak of 4,974 tonnes, the World Gold Council said in a recent annual report. 

The record run has extended into 2025, with gold striking a record high close to $2,900 an ounce on Friday. Central banks are purchasing gold in big quantities amid geopolitical and economic uncertainty, with the precious metal regarded as a safe haven investment.