Gold climbed to a fresh record, with traders weighing China’s plan to become a custodian of foreign sovereign gold reserves in a bid to strengthen its standing in the global bullion market. The People’s Bank of China is using the Shanghai Gold Exchange to court central banks in friendly countries to buy bullion and store it within the country’s borders, according to people familiar with the matter. The Asian nation is the world’s biggest producer and consumer of the precious metal, and the country taking ...