Gold prices surge on multiple factors

Spot gold surged to a record, crossing $2,100 per ounce in early Asian trading on Monday, and experts predicted further fresh highs as the global rush for bullion may continue on growing expectations for US rate cuts early next year.

Prices of gold futures also touched a record high. The benchmark COMEX gold futures surpassed $2,150 per ounce, a daily increase of over 3 percent. COMEX is an abbreviation of the Commodity Exchange Inc, a futures and options market in the United States.

Gold-related stocks saw a substantial opening surge in the A-share market on Monday. Shares of Chifeng Gold rose nearly 6 percent to close at 14.87 yuan ($2) per share.