Gold rose on Thursday to hit its highest level in more than a month after the fall of a quarter point in the rates of Federal Reserve caused the dollar to fall.

Spot gold was up 1.2% at $4,275.39 per ounce at 11:49 ET (16:49 GMT), peaking high level since October 21. American gold futures for Deliveries in February gained 1.9% to $4,303.90 per ounce.

Cash prices increased by 3.2% to reach $63.77 per ounce, remaining close to the session's record at 63.93 dollars. According to Edward Meir, an analyst at Marex, “The money seems lead gold in its race, and it also drives platinum and palladium in their wake... there is a strong momentum at the moment.”

Elsewhere, platinum has gained 2.5% to 1,698.10 USD, while palladium has increased by 1.3% to USD 1,494.88