Gold prices rose to an all-time high on Tuesday, supported by growing expectations of continued U.S. interest rate cuts and a slight decline in the dollar.
The spot price of gold increased by 0.2 percent to $3,752.43 per ounce, after hitting a record high of $3,758.03 earlier in the session. U.S. gold futures for December delivery also increased by 0.3 percent to $3,787.60.
Gold, the safe-haven asset that typically performs well in a low-interest-rate environment, has surged about 43 percent since the beginning of the year. The increase has been driven by broader geopolitical and economic uncertainty, central bank purchases, and monetary policy easing.
