The photo has been used for illustrative purposes.
Gold prices broke $1,400 an ounce to hit a near-six-year high on Friday as the weaker dollar, economic concerns and geopolitical tensions saw investors pile into the safe-haven commodity.
Demand surged after the Federal Reserve on Wednesday indicated it would likely cut interest rates soon — for the first time in a decade — which sent the dollar tumbling across the board and making it cheaper to buy the yellow metal.
The announcement came as central banks around the world adopt a more dovish stance in the face of a stuttering global economy and as investors fret over the trade outlook with the US and China embroiled in a long-running trade war.
It also coincided with news that Iran had shot down a US "spy drone", which it said was in its airspace, ratcheting up a standoff with Washington and fuelling concerns of a conflict between the old enemies.
Gold prices have surged around 10 per cent in June and an ounce cost $1,411 in Asian trade, its highest since September 2013.
"Toppling bond yields have historically been significant indicators for the pulse of the markets," said Stephen Innes, managing partner at Vanguard Markets.
"Falling yields continue flashing red with recessionary concerns, while the strengthening yen is a harbinger of market worries, suggesting that haven demand is loading up on risk premiums as the potential for geopolitical trouble mounts."
Gold prices hit a record high above $1,900 in 2011 during the eurozone debt crisis.
However, it began falling two years later when the Federal Reserve indicated it would begin winding down its huge bond-buying stimulus programme put in place to weather the global financial crisis. The move to tighten monetary policy saw the dollar strengthen, making gold more expensive.
"The past seven years of hawkish promises about higher rates and central bank balance sheet unwinding was, as gold investors warned, a blip in the trend of monetary policy that is loose, looser and looser still," said Ned Naylor-Leylan of Merian Global Investors.
Physical gold demand picked up slightly in most Asian hubs this week as a drop in prices spurred some interest, but failed to stoke significant demand as buyers awaited steeper dips.
Burglars have stolen a fully-functional 18-carat gold toilet from Britain's Blenheim Palace, where it had been installed as an art exhibit, police said on Saturday.
Demand for physical bullion was subdued in major Asian hubs this week as high prices dampened consumer interest, although some hefty discounts on offer in India led to a slight uptick in buying ahead of a major festival season.
Gold prices have hit a record high amid a rush for safe haven assets owing to the fears of a recession. Goehring & Rozencwajg, a research firm which focuses on investments in natural resources, says the great gold bull market has begun.
The New Cochin Bakery and Brownies Bakery in Kannur are designing the cake which will be on display at the Jawaharlal Nehru Stadium, Kannur
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, also sent similar messages to President Abdul Hamid and Bangladeshi Prime Minister Sheikh Hasina on the occasion.
This was on Friday evening, when the operations room was alerted about a brawl among members of one family in a house located in an area of the emirate. A police force immediately dispatched to the location of the house to deal with the incident.