Gold has hit a record high, as traders seek a safe asset amid a tumultuous geopolitical and economic environment.
As of 4:46 p.m. EDT on April 2, gold was up 9 percent for the year, with a per-ounce value of $2,279.01.
Interest rate cuts also can lead to higher gold prices, as bonds drop to offer investors lower yields and currencies potentially depreciate. Traders may be putting more money in gold now because of their anticipation of interest rate cuts coming later this year from various federal banks.