Wild fluctuations in the price of gold continued on Wednesday as geopolitical tensions reignited after the US downed an Iranian drone . The precious metal, which is seen as a so-called "safe haven" for investors in times of uncertainty, shot back above $5,000 (£3,650) an ounce following days of sharp falls. Gold prices had been propelled to record highs by rapid changes in US trade policy, ongoing geopolitical uncertainty and conflict and central banks increasing their purchases of bullion.