"Gold Prices Continue to Hit Record Highs"

Gold prices soared to new heights on Tuesday, supported by a weaker dollar and declining bond yields. This surge comes amid increasing bets on the U.S. Federal Reserve cutting interest rates this month, which has boosted demand for the yellow metal.

In spot trading, gold rose by 0.2% to $3642.09 per ounce by 06:36 GMT, after reaching an all-time high of $3659.10 earlier in the session.

December gold futures in the U.S. edged up by 0.1% to $3682.10. Tim Waterer, a senior market analyst at KCM Trade, noted that further increases in gold prices are likely, provided the central bank meets market expectations by lowering rates several times.

In August, the growth in U.S. jobs significantly slowed, with unemployment rising to a nearly four-year high of 4.3%. This situation highlights the frailty of the labor market and increases the likelihood of rate cuts next week.