Gold clinched a fresh all-time high, with traders shrugging off cautious commentary from Federal Reserve officials about the outlook for monetary policy after the US central bank cut interest rates last week.
Bullion edged up to hit $3,749.27 on ounce in Asia on Tuesday, following gains in the previous two sessions which included record highs. Investors have piled into exchange-traded funds — with holdings expanding at the fastest pace in more than three yearsBloomberg Terminal on Friday — following a brief dip in prices last week as Fed Chair Jerome Powell curbed expectations for rapid easing, after the central bank reduced rates on Wednesday. Lower rates benefit typically benefit non-interest bearing precious metals.