Gold prices have climbed above $3,600 to hit a record high as concerns about central bank independence and expectations of a US interest rate cut boost demand for the precious metal.
The price of spot gold rose 0.8pc to 3,613.87 on Monday morning.
Investors have been flocking to gold as they search for other assets because lower interest rates tend to lead to lower returns from cash and bonds.
It comes after downbeat jobs figures released on Friday raised the prospect that the Federal Reserve will cut interest rates when it meets next week.
Gold has risen over 35pc this year as investors pile into the precious metal. It is also in demand because it acts as a hedge against inflation and is viewed as the ultimate safe haven asset.
