Gold rallies to new record on U.S. rate cut hopes, Fed tension

By Anushree Mukherjee and Sherin Elizabeth Varghese (Reuters) - Gold hit a record high above $3,600 an ounce on Tuesday, spurred by expectations of U.S. rate cuts, concerns about Federal Reserve independence and robust demand from investors and central banks. Having hit a record high at $3,673.95 a troy ounce, spot gold was trading around $3,637.39 at 1524 GMT for a gain of more than 38% so far this year. Analysts expect gold to trade in a $3,600-$3,900 range in the near to medium term and see potential ...