Gold prices jumped to an all-time high on Tuesday, surpassing a previous record in April after President Donald Trump’s “liberation day” tariffs, amid a weak dollar and expectations of a US interest rate cut this month.
The spot price of gold rose 0.9 per cent to $3,508.70 a troy ounce during early trading in Asia, before paring gains to trade at $3,497.
Demand for bullion has risen as investors view it as a hedge against inflation and broad macroeconomic uncertainty, said analysts.
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