Ammon News - Gold scaled a record peak on Monday, spurred by concerns over global economic growth amid the U.S.-Sino trade war, while a weaker dollar further boosted the rally.

Spot gold advanced 1.4% to $3,373.70 an ounce as of 0432 GMT after hitting a record high of $3,385.08 earlier in the session.

U.S. gold futures firmed 1.8% to $3,386.50.

The dollar index hit a three-year low, making gold more attractive for other currency holders.

"Fundamentally, markets are pricing in heightened geopolitical risks, driven by U.S. tariff tensions and stagflation concerns, while resilient central bank demand offers an added tailwind for prices as well," said IG market strategist Yeap Jun Rong.

However, gold's relative strength index (RSI) stands at 75, indicating that the metal is overbought.

Spot silver added 0.4% to $32.71 an ounce, platinum gained 0.3% to $969.65, while palladium fell 0.5% to $957.68. Reuters