Gold prices hit a record high on Wednesday, bolstered by fears of a new trade war between the United States and China after Beijing slapped tariffs on U.S. imports in a response to new U.S. duties on Chinese goods.

Gold futures finished at a new record high on Monday, as tariffs dominated the day's action in U.S. markets, with the uncertainty around President Trump's tariff plans driving investors toward gold as a safe-haven asset, and traders speculating that physical metal prices have room to move up further.

Gold prices rose to hit a lifetime high on Thursday while the focus was also on a crucial inflation report for clues on the Fed's policy path.

The Dow Jones Industrial Average rose 59.74 points, or 0.13%, to 44,481.65, the S&P 500 rose 40.42 points, or 0.67%, to 6,034.94 and the Nasdaq Composite rose 247.84 points, or 1.28%, to 19,639.79.

Investors turned more bullish on gold as President Trump was signing the various Executive Orders that would begin enacting his aggressive policies. As a result, the SPDR Gold Shares ran through the top of its range at $250, initiating what is referred to as a “Volatility Rally”.

Gold prices hit a record high on Wednesday, bolstered by fears of a new trade war between the United States and China after Beijing slapped tariffs on U.S. imports in response to new U.S. duties on Chinese goods.

Gold held near a record high in Asian trading, after rising by almost 1% in the previous session, as the opening salvos of the US-China trade war stoked haven demand.

Gold prices regained an all-time high on Tuesday, driven by investors seeking the safe-haven asset after China retaliated with tariffs on the U.S. in response to President Donald Trump's tariffs. Spot gold gained 1.

Gold rose to a new all-time high after US President Donald Trump’s 10% tariffs on China prompted swift retaliation from Beijing, buoying haven demand.