(Bloomberg) -- Gold’s scorching run to an all-time high may seem easy to explain from a distance, given the fractious geopolitical climate and murky outlook for the global economy. The precious metal is famously seen as a “safe haven,” and the general view is that bullion prices should rise when interest rates fall — which many investors expect will happen later this year. After trading in a fairly steady range for months, bullion started spiking in early March. It’s risen 14% since then and left a string of daily records in its wake.