Gold rises to a new record high…an ounce exceeds $3,972

Gold recorded a record high level during early Asian trading, driven by economic uncertainty and traders’ expectations of new cuts in US interest rates.

Gold rose in spot transactions 0.3 percent to $3,970.59 per ounce by 22:30 GMT, after hitting a record high of $3,972.01 earlier, while US gold futures for December delivery increased 0.5 percent to $3,994.10, after also recording a record high of $3,997 per ounce.