Gold prices continued their record run on Wednesday, as investors sought the safe-haven asset amid escalating concerns about a U.S.-China trade war and the potential impact on economic growth. Spot gold was up 0.

Gold's record-breaking rally has soared past $2,870 per ounce, fuelled by central bank purchases, inflation concerns, and deglobalisation fears. Trade tariffs imposed by the Trump administration are further amplifying demand for safe-haven assets.

Gold was steady near a record high after President Donald Trump imposed 10% tariffs on China, buoying haven demand.