Gold prices hit a record high for a seventh straight session on Monday, fueled by central bank purchases and geopolitical tensions, while strong economic data failed to dull bullion’s allure.
U.S. gold futures gained less than 0.1% to $2,346.90. Spot gold was just below flat at $2,328.28 per ounce, after hitting a record high of $2,353.79 earlier in the session.
China’s central bank added 160,000 troy ounces of gold to its reserves in March, it said. Turkey, India, Kazakhstan, and some eastern European countries have also been buying gold this year.
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