Rolling coverage of the latest economic and financial news
The gold price has climbed to a new record high today, as investors seek out a safe haven.
The spot price of gold has hit $3,546.99 per ounce, on track for its seventh daily rise in a row.
Seasonality has entered the narrative: for US equities, September is the worst month of the year for the S&P 500, with an average drawdown of nearly 2% over the past 10 years.
But from an Australian and fundamental standpoint, valuations have been eye-watering and far beyond what could be justified by the earnings that were served up by companies last month. On top of that, higher global bond yields are putting the squeeze on global equity prices.
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