Gold hits record high as Asian markets open

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Gold hits record high as Asian markets open
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Asian markets got off to a modest start, but the gold price jumped by another 1% to surpass its 2011 peaks

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, July 27, 2020.

"I think we're going to have a fairly modest start to trade," said Commsec Senior Economist Ryan Felsman in Sydney, pointing to Asian futures rising overnight.MSCI's broadest index of Asia-Pacific shares outside Japan rose 4.64 points or 0.86 percent, to 546.81. "The Republican plan is weak tea, when our problems need a much stronger brew," Senate Democratic leader Chuck Schumer said.

Moderna Inc's vaccine against Covid-19 could be ready for widespread use by the end of this year, US and company officials said, after the drugmaker announced the start of a 30,000-subject trial.

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