Gold price surpasses $3,300 to new record as tariff war ramps up

Gold soared to another record high on Wednesday to breach the $3,300-an-ounce level, as escalating US-China trade tensions steered investors towards the safe-haven asset.

Spot gold rose nearly 2.7% to $3,313.45 per ounce as of 10:30 a.m. ET, having set a new peak of $3,318.80 just before that. US gold futures also gained 2.7% to $3,326.80 per ounce.

Credit: Reuters

The US dollar, meanwhile, continued to depreciate against its rivals to hold near a three-year low.

Fueling gold’s rally...