(Bloomberg) — Gold rose to a record as indications the Federal Reserve is getting closer to cutting interest rates added impetus to a rally that’s also been driven by geopolitical tensions and robust Chinese demand.
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Bullion jumped to as much as $2,265.73 an ounce on Monday, up 1.6% from Thursday’s close, after setting a series of peaks in recent sessions.
The Fed’s preferred gauge of underlying inflation — the core personal consumption expenditures index — cooled in February, data showed Friday, when many markets were closed. That adds to the case for a reduction in borrowing costs, although the central bank has been striking a cautious tone.
A host of positive drivers have pushed up bullion by around 14% since the middle of February. The prospect of monetary easing by major central banks, and elevated tensions in the Middle East and Ukraine have…
