Gold jumped to fresh record highs amid renewed hopes for interest rate cuts from the US Federal Reserve and rising geopolitical tensions in the Middle East. Spot gold hit a record high of $2,453.30 (£1,931.61) an ounce soon after the Iranian president Ebrahim Raisi was killed in a helicopter crash. His death has added to tensions in the Middle East, which analysts said increases the appeal of the metal, which is considered a safe haven in times of turmoil. Bullion has also received a boost as traders have been increasing bets in recent sessions that the Federal Reserve could reduce borrowing costs as early as September, a scenario that would bolster gold as it doesn’t pay interest. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Demand for the safe-haven asset has surged as investors have been digesting news of the death of Iran’s president Ebrahim Raisi who is believed to have been killed with others including foreign minister Hossein Amir-Abdollahian in a helicopter crash. Read more: Stocks to watch this week: Nvidia, Marks & Spencer, Ryanair, and UK inflation "Demand for the metal has also likely to have been pushed up by renewed speculation that the Federal...