Price of gold hits record high amid geopolitical tensions and investor jitters

Investors piled into asset as speculation grows over expected US interest rates cut and Israel-Gaza war continues

The price of gold has hit a record high amid investor jitters over tensions in the Middle East and speculation that US interest rates will be cut by the summer.

Investors piled into the “safe haven” asset on Tuesday, with the spot price reaching a record $2,141.59 (about £1,685) for an ounce, beating the previous record of $2,135 in December, before easing back again to about $2,128.

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