Gold prices climbed to a fresh record high on Tuesday, bolstered by increased expectations of further U.S. rate cuts, as investors awaited Federal Reserve Chair Jerome Powell's speech later in the day for further policy cues. Spot gold rose 1% to $3,784.01 per ounce, as of 1011 GMT, after hitting a fresh record high of $3,790.82, earlier in the session. "Miran’s dovish posture certainly heightens the expectation of greater rate cuts as it seems the U.S. administration is keen to push this, and this is a gold-positive outcome," said independent analyst Ross Norman. Physical gold premiums in India rose to a 10-month high this week as record prices near a festive season failed to deter investors from buying bullion in anticipation of further gains. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.60% to 1,000.57 tons, a more than three-year high on Monday from Friday.