Gold hit a record high and Bitcoin traded above $40,000 for the first time since May last year on Monday amid growing optimism that the Federal Reserve will cut United States interest rates in the new year, which has dented the dollar in recent weeks. Gold, the precious metal seen as a haven investment, reached an all-time pinnacle at $2,135.39 an ounce. Profit-taking later set in, leaving it to trade at $2,069.01. The dollar was also firmer on Monday. According to analysts familiar with the development, Gold is also benefiting from the Israel-Hamas war escalation, which has lasted for two mon…

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