Gold climbed past $3,000 an ounce for the first time on record, touching $3,003.41 late Tuesday and extending its longest run of daily gains since February. The break above its 200-day moving average came as traders intensified wagers that the Federal Reserve will begin cutting interest rates as soon as September. Derivatives markets now assign better than a 90% probability to a September reduction and roughly three cuts by year-end, lowering the opportunity cost of holding non-yielding bullion. Haven demand has also strengthened on signs of a slowing U.S. economy and on political turbulence surrounding the central bank. President Donald Trump last week dismissed the Bureau of Labor Statistics commissioner over unsubstantiated claims of data manipulation and has repeatedly criticized Fed Chair Jerome Powell while searching for a nominee to fill a vacant Board of Governors seat. The White House says a decision could come by week’s end. The political pressure is weighing on sentiment toward the greenback. A Reuters survey of more than 70 foreign-exchange strategists released Tuesday predicts the dollar will weaken steadily, with the median forecast putting the euro at $1.17 by October and $1.20 within a year. In Asian trading, the dollar index was little changed around 98.78, while the yen held near ¥147.5.