Gold jumped to a record high, surpassing $3,900 per ounce on Monday, supported by growing expectations of Federal Reserve cut key rates this month, as well only by continuing economic and political uncertainty in the United States, in France and Japan.

At 13:41 GMT, spot gold rose by 1.4% to $3,941.63 per ounce, after reaching a high of $3,949.34 plus early in the session. American gold futures for delivery in December gained 1.5% to $3,967.70 per ounce.

Gold has climbed 50% since the start of the year, setting record growth driven by expectations of a fall Fed rates, continued central bank purchases, demand supported by safe havens and the widespread weakness of the dollar. The courses at Cash crossed the $3,000 per ounce threshold for the first time in March, then that of $3,800 at the end of September.

Gold, which does not pay interest, thrives in an environment of low interest rates and in times of economic uncertainty.

Cash has also increased by 1.4% to $48.63 per ounce, reaching its highest level in over 14 years. Platinum gained 2.3% to $1,642.25 and palladium rose 2.8% to 1 $295.75.