Gold prices scaled a record peak on Wednesday as a weaker dollar, escalating trade tension and concerns over global economic growth fuelled demand for safe-haven bullion.
Spot gold rose 1.7% to $3,282.88 an ounce as of 0457 GMT. It hit a fresh high of $3,290.10 per ounce earlier in the session.
U.S. gold futures gained 1.8% to $3,299.60.
'A confluence of factors such as dollar depreciation and ongoing risk aversion are working in gold's favour,' said Tim Waterer, chief market analyst at KCM Trade.
The dollar index eased 0.5% against its rivals, making gold more attractive for other currency holders.
Spot silver added 0.5% to $32.45 an ounce, platinum fell 0.3% to $956.80 and palladium was steady at $971.24. Reuters
Gold prices scaled a record peak on Wednesday as a weaker dollar, escalating trade tension and concerns over global economic growth fuelled demand for safe-haven bullion.
Spot gold rose 1.7% to $3,282.88 an ounce as of 0457 GMT. It hit a fresh high of $3,290.10 per ounce earlier in the session.
U.S. gold futures gained 1.8% to $3,299.60.
'A confluence of factors such as dollar depreciation and ongoing risk aversion are working in gold's favour,' said Tim Waterer, chief market analyst at KCM Trade.
The dollar index eased 0.5% against its rivals, making gold more attractive for other currency holders.
Spot silver added 0.5% to $32.45 an ounce, platinum fell 0.3% to $956.80 and palladium was steady at $971.24. Reuters
Gold prices scaled a record peak on Wednesday as a weaker dollar, escalating trade tension and concerns over global economic growth fuelled demand for safe-haven bullion.
Spot gold rose 1.7% to $3,282.88 an ounce as of 0457 GMT. It hit a fresh high of $3,290.10 per ounce earlier in the session.
U.S. gold futures gained 1.8% to $3,299.60.
'A confluence of factors such as dollar depreciation and ongoing risk aversion are working in gold's favour,' said Tim Waterer, chief market analyst at KCM Trade.
The dollar index eased 0.5% against its rivals, making gold more attractive for other currency holders.
Spot silver added 0.5% to $32.45 an ounce, platinum fell 0.3% to $956.80 and palladium was steady at $971.24. Reuters
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