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.

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.