Gold has surged to a fresh record high above $3,600 an ounce as investors increase bets that the US Federal Reserve will cut interest rates this month, fuelling demand for the traditional safe-haven asset.
Spot gold rose 0.8 per cent to trade at $3,614.24 an ounce, lifted by a weaker dollar and mounting concerns over the global economic outlook, US trade tensions and questions about the dollar’s long-term dominance.
The latest rally extends a sharp run-up in prices that has seen gold climb more than 35 per cent since the start of the year, as investors and central banks alike have added to their holdings to hedge against inflation and p
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