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The price of gold rose 1.49 percent on Monday, reaching a record high of $3,819.8 per ounce, according to data at 07:00 GMT.
Over the past 12 months, the price of gold has increased from $2,536.91 to $3,819.8, registering an increase of 41.5 percent.
The price increase is related to geopolitical tensions, uncertainties over the global economy, increased demand for gold by central banks, and the cycle of interest rate cuts by the US Federal Reserve.
Last week, the Fed cut its key interest rate by 25 basis points, with markets expecting further cuts during its October and December meetings.
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