The price of gold hit a record high, starting the second quarter on the front food and extending a multi-month rally.
The yellow metal was trading at $2,252.22 per troy ounce in New York on Monday morning, according to LSEG data, a gain of about 3 per cent from its previous close on March 28, before the Good Friday. Gold hit an intraday high of $2,265.49 earlier in Monday’s session.
Gold is often viewed as a hedge against political and economic uncertainty. Sticky inflation and geopolitical tensions in the Middle East have potentially encouraged some investors to purchase the asset, regarded as a relative safe haven.
US inflation data on Friday showed that price pressures ticked higher in February thanks to rising petrol prices.
feed from www.ft.com