(RTTNews) - Note: An outdated gold article was recently run. It has been corrected below: Gold gained again on Tuesday as traders continue to flock to the precious metal's hedge appeal with the world-wide credit crunch in full swing. December gold moved to $882, up $15.80 on the session. Prices hit as high as $893.70, gold's highest mark since Oct. 1. On Tuesday, Federal Reserve Chairman Ben Bernanke hinted at another interest rate cut in the near future. Speaking at a meeting of the National Association for Business Economics in Washington, D.C., Bernanke said that the Fed would take a look at its current stance on monetary policy, given the growing threat of continued economic weakness. Later in the day, the Federal Open Market Committee added to the rate cut talk as it noted that economic growth is likely to continue to slow in the coming months, adding that softening consumer tight credit markets, slowing export growth and continued problems in the housing market were likely to continue to drag down economic growth. Many experts speculate that interest rate cuts may take place around the globe. The Reserve Bank of Australia reduced its key interest rate by 100 bps to 6% on Tuesday in what many feel will be one of many such decisions. The Bank of England is expected to slash its rates later on Thursday and the European Central Bank hinted cuts may be coming by the end of the year after leaving rates unchanged last week. The dollar slipped away from a yearly high against the euro as European Finance Ministers agreed to boost guaranteed bank deposits to €50,000, up from the previous level of €20,000. This came a day after Ireland said it will guarantee all deposits. Usually, gold moves opposite the dollar because of the precious metal's safety appeal. Crude oil also moved back above $90 a barrel again, making up some of its lost ground from the day before. Oil fell as low as $87.56 on Monday amid concerns that the credit crisis may slow energy demand.

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