The price of gold surged to a record high Tuesday as investors' fears about the economy and the stock market added new luster to the metal's reputation as a haven.

Rising bond yields and a slumping dollar fuel inflation worries after the rate cut. Yields on long-term Treasury bonds jumped, the U.S. dollar sank and the price of gold surged Thursday, intensifying questions about whether the Federal Reserve's move this week to stimulate the economy could backfire.