Gold Keeps Hitting New Highs Today, And Stocks Are Diving

Gold keeps making new highs today as the stock market sells off.

A few minutes ago, the metal hit $US1424 an ounce, but has since backed off slightly to $US1420, up 1.9% on the day.

Meanwhile, the Dow Jones Industrial Average is down 110 points, or 0.8%.

The last time gold was trading at these levels was in early May, when it was on the way down.

Since bottoming out at $US1179.40 on June 28, the metal has rallied more than 20% to today’s prices.

The chart below shows trading in gold in 2013.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.