March 5 (Reuters) – Gold notched a record high on Tuesday, as traders ramped up bets of a start to interest-rate cut by the U.S. Federal Reserve in June, with investors pouring money into the safe-haven asset as the Middle-East war drags on.
Spot gold XAU= climbed 1% to $2,136.69 per ounce by 1332 GMT. U.S. gold futures GCcv1 jumped 0.9% to $2,145.40 per ounce. Gold last hit a record high of $2,135.40 on Dec. 4.
Gold, which is often sought as a safe store of value in times of economic turmoil, benefits from central bank easing as it pushes down bond yields and the dollar, making the metal more attractive.
(Reporting by Swati Verma in Bengaluru)
((Swati.Verma@thomsonreuters.com; +91 8894503862;))
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