Gold price hits record above $ 900.

SINGAPORE, Jan. 14 (Reuters) -- Gold hit a record high above $ 900 an ounce on Monday as turmoil in financial markets and expectations of aggressive US rate cuts helped raise the metal's safe-haven appeal.

Platinum hit a lifetime high while silver touched a 27-year peak, buoyed by gold's

rise.

Spot gold hit an alltime high of $ 906.70 an ounce, higher than $ 895.70/896.50 in New York on Friday.

COMEX gold futures touched $908.90 an ounce, surpassing Friday's record high of $900.10. The most active February contract was later quoted at $ 907.0, up $ 9.3 an ounce.

Japanese gold futures were closed for a holiday.

"There is blue sky ahead of us and there is room for gold to go higher. We are in an uncharted territory, really," said Darren Heathcote of Investec Australia in Sydney.

"We have a weaker dollar and that's encouraged people to buy gold," he said.

Investors have bought gold as a safe-haven asset after the dollar dropped on expectations the Federal Reserve would cut interest rates by an aggressive half-percentage point at its Jan. 29-30 policy meeting to rescue the US economy.

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