** Australian gold stocks .AXGD rise as much as 2.8% to 17,675.40, hitting new record high
** Gold prices breached the $4,200 per ounce mark for the first time on Wednesday amid rising U.S. interest rate cut bets and global trade tensions GOL/
** Shares of Northern Star Resources NST.AX up 2.5%, while smaller firm Regis Resources RRL.AX up 4.9%
** Australian benchmark S&P/ASX 200 index .AXJO up 0.3%
** YTD, gold has surged over 60%, while AXGD more than doubled in value
(Reporting by Nichiket Sunil in Bengaluru)
((nichiket.sunil@thomsonreuters.com))