New Delhi, Sept. 2 -- Gold prices surged to an all-time high on Tuesday, extending gains for the sixth consecutive session amid a softer dollar and growing expectations of a U.S. interest rate cut later this month. Spot gold rose 0.5 percent to $3,492.26 per ounce as of 0157 GMT, after briefly touching a record $3,508.50. Meanwhile, U.S. gold futures for December delivery climbed 1.4 percent to $3,563.40.

The recent rally in precious metals reflects investor caution amid a weakening economic backdrop and anticipation of policy easing by the Federal Reserve. Concerns over the independence of the U.S. central bank have also weighed on confidence in dollar-denominated assets. President Donald Trump has repeatedly criticised the Fed and its ...