Gold has achieved a new record high, accompanied by a notable surge in the value of Bitcoin. Gold has achieved a new record high, accompanied by a notable surge in the value of Bitcoin, signaling a shift in investor strategies influenced by changing interest rate expectations, according to BBC.

On Tuesday, the precious metal gold glided owing mainly to the increase in a dollar. In addition, the positive US data, which fuelled the speculation on Fed interest rate hike, drove the global share market to a new height.

Gold purchase in India increased 62% during the month of January. The government lifted the import duty on gold citing the growing prices in global market.

The gold price drop last week showed its lowest since 2010 and the yellow metal is poised for further fall likely to record biggest monthly drop in the past two years.

The curtain came down on nearly a century of tradition for bullion markets on Friday when U.S. bourse Intercontinental Exchange (ICE) was named as provider of an electronic benchmark gold price to replace the twice daily "fix".

Gold prices, after a previous period of decline, is now on the rise, recently topping the USD1,400 level.