Spot price increases to $2,522.99, with record run meaning standard gold bar is worth more than $1mBusiness live – latest updatesGold prices have hit a fresh high as increasing hopes of US interest rate cuts from the Federal Reserve prompted investors to buy more of the precious metal.The spot price of gold rose to a record $2,522.99 (£1,941.69) on Tuesday morning, up 0.7% on the day. Gold bars generally weigh 400 troy ounces (12.4kg), so a standard gold bar is now worth more than $1m. Continue reading...