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April 3 Reuters Gold prices extended a record run on Wednesday as concerns of inflationary pressures boosted demand for bullion as a hedge, with traders shrugging off doubts over an imminent U.S. interest rate cut and rising Treasury yields.

Spot gold was up 0.2 at 2,283.76 per ounce, as of 0602 GMT, and hit a record high of 2,288.09 earlier in the session. Bullion has hit record highs consecutively since Thursday.

U.S. gold futures gained 1 to 2,304.20.

Gold continues to receive safehaven flows as Ukraine continues to attack Russia39;s oil infrastructure, to the point it is ignoring rising U.S. yields and the prospects of the Fed not cutting rates in June, City Index senior analyst Matt Simpson said.

Federal Reserve policymakers on Tuesday said they think it would be reasonable to cut U.S. rates three times this year, even as stronger recent economic data has sown investor doubts about that outcome.

Data this week showed U.S. manufacturing unexpectedly rebounded, with the rise in raw materials prices triggering fears that inflation could resurge.

With commodity prices rising in general, it brings the risks of another round of inflation so perhaps investors are hedging for inflation, Simpson said.

Gold, which is used a hedge against inflation and a safe haven during times of…