Gold Rallies as Government Debt Concerns Intensify

Gold prices surged to their highest level in over three months on Monday as concerns about government debt mount. Spot gold rose 1.9% to $4670 per ounce, its highest since mid-May, amid ongoing US policy uncertainty and rising trade tensions with Canada.

Data released last week showed the UK's public debt reached £2.98 trillion (about $4.1 trillion) at the end of July, or 94.1% of GDP, adding to concerns about government debt levels across major economies.

Billionaire investor Ray Dalio warned that mounting government debt is a problem extending beyond the US, arguing that countries are headed towards economic 'heart attacks'.