Investors are flocking to precious metals amid geopolitical tensions and with more US interest rate cuts expected.

It comes as fiscal deficits and the race for the next chair of the Federal Reserve weighs on investors' minds.

Investors are flocking to precious metals amid geopolitical tensions and with more US interest rate cuts expected.

Futures tied to the precious metal hit a high of $4,530.80 per ounce on Tuesday — the first time it ever traded above $4,500.

David Neuhauser, CIO at Livermore Partners, told CNBC's "Access Middle East" that gold has more room to run.