13:03 Thu 03 Jun 2021 S&P/ASX 200 hits record high as strong demand dynamics push oil price above US$70 per barrel Gold prices rose 0.4% to US$1,906.80 per ounce on Wednesday, hovering below a near five-month peak achieved in the previous session. Global investors are awaiting U.S. payrolls data due on Friday to gauge cues on future monetary policy. S&P/ASX 200 (INDEXASX:XJO) has hit another record high earlier today, with the index lifting 0.9% to 7281.8. The Big 4 banks were the largest contributors to the market’s gains as Commonwealth Bank (ASX:CBA) hit a fresh record high of $101.85 this morning. Energy stocks are also continuing to gain, with the sector lifting by 2.84% following a 1.4% rise in brent crude oil price to US$71.25 a barrel.