gold an attractive asset

Gold and platinum have both hit fresh all-time highs for the third straight trading day, lifted by expectations of a further cut in US interest rates. In Tuesday trading, gold was $929.40 an ounce, while platinum touched $1,735.

As fears about a US recession continue, gold is seen as an attractive asset given the current economic uncertainty.

The weak dollar - which may fall again if US rates are cut - also boosts gold as it makes the metal cheaper for holders of other currencies.