Gold hits new record, crosses $3,500
Gold prices hit a record high above $3,500 on Tuesday, as investors sought out safe havens in the face of global economic uncertainty.
Bullion reached $3,501.59 an ounce during early trading in Asia, soaring past its previous record of $3,500.10 in April.
The run in gold prices comes as investors weigh up a weakened US dollar and the prospect of rate cuts by the Federal Reserve.
Wall Street retreated from record highs Friday as a key US inflation reading accelerated, giving the Fed less room to manoeuvre at the same time concerns mount over its independence.
Wall Street was shut Monday for Labor Day, while the dollar traded mixed against main rivals..
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