Gold rose to a record on April 1 as signs that the Federal Reserve was moving toward cutting interest rates added impetus to growth that was also driven by geopolitical tensions and strong demand in China. Bloomberg reports this.
► Subscribe to the Ministry of Finance telegram channel: main financial news
Bullion jumped to $2265.73 per ounce, which is 1 .6% higher than on March 28, after establishing a series of peaks in recent sessions.
Since mid-February, a number of positive factors have pushed bullion to rise by about 14%. The prospect of monetary easing by major central banks and heightened tensions in the Middle East and Ukraine fueled the rally.
Central banks were also active in buying securities, especially in China, while local consumers began buying bullion amid persistent problems in Asia's largest economy.