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Unrest in Ukraine and the Middle East has seen gold rebound 9.4% this year while the Fed warns benchmark rates could rise sooner than expected.
The metal’s futures for June delivery have risen to $823 an ounce, the highest since August 2011 as a result of concerns about a supply shortage.
The commodity rallied as an ADP research institute report showed US companies added less jobs than was forecast.
Analysts have warned against too much optimism, saying investors turn to the metal when they are worried about the dollar.
Gold climbed to a one-week high in London as a bigger-than-estimated increase in China’s inflation and lower prices spurred demand for the metal.
