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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 per cent 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.
US gold futures gained 1.8 per cent to $3,299.60, reports Reuters.
"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 per cent against its rivals, making gold more attractive for other currency holders.
Further escalating the US-China trade tensions, on Tuesday said it would take $5.5 billion in charges after the US government limited exports of its H20 artificial intelligence chip to China.
Meanwhile, China ordered its airlines not to take any further deliveries of Boeing jets in response to the US imposing 145 per cent tariffs on Chinese goods.
"Gold will continue to be strong as long as there's uncertainty," said Brian Lan, managing director at Singapore-based dealer GoldSilver Central.
Gold, traditionally viewed as a safe-haven investment during times of geopolitical and economic uncertainties, hit multiple record highs this year, gaining more than 25 per cent year-to-date.
"We believe risk-off purchases for gold are yet to pick up," analysts at ANZ said, raising the bank's year-end gold price forecast to $3,600 per ounce and six-month forecast to $3,500.
Investors now await the US retail sales data, due later in the day, for insights into the economy and the Federal Reserve's policy trajectory.
Spot silver added 0.5 per cent to $32.45 an ounce, platinum fell 0.3 per cent to $956.80 and palladium was steady at $971.24.