Gold prices edged higher on Thursday, hovering near record levels hit yesterday, supported by expectations of further U.S. interest rate cuts this year and ongoing political uncertainty.

By 06:31 GMT, spot gold rose 0.2% to $3,871.99 per ounce, after hitting an all-time high of $3,905.09 per ounce the previous day.

U.S. December futures were steady at $3,896.70 per ounce.