New york: US gold futures on Tuesday hit a record high, exceeding $4,000 per ounce for the first time ever, supported by expectations of a US interest rate cut this October and continued safe-haven demand amid the US government shutdown. US gold futures for December delivery rose 0.9 percent to $4,009.90, after hitting a high of $4,011.30.

According to Qatar News Agency, spot gold also rose 0.7 percent to $3,986.29 per ounce, after hitting an all-time high of $3,988.59 earlier in the session. Gold prices have jumped 51 percent so far this year.

As for other precious metals, spot silver fell 0.9 percent to $48.10 per ounce, while platinum rose 0.5 percent to $1,633.90, and palladium rose 3.2 percent to $1,361.37.