Gold Hits Record High on US Rate-Cut Bets and Debt Concerns

Gold hit a fresh all-time high, as the prospect of US interest-rate cuts boosted the metal’s appeal and traders sought safety following a recent selloff in equity and bond markets. Bullion climbed as much as 0.7% to top $3,556 an ounce, exceeding Tuesday’s peak. Prices have advanced about 5% over…