The price of gold continued to go upward on Wednesday, reaching a new record high of $3,328 per ounce as trade tensions pushed investors towards the safe-haven asset.
The United States earlier announced that tariffs on Chinese products could reach 245% due to its retaliatory measures. Meanwhile, China slammed Washington's comments, stressing that Beijing imposed countermeasures to protect its "legitimate rights and interests."
Gold surged 3.06% at 12:03 pm ET, going for $3,328.45 per ounce. At the same time, silver climbed by 1.87% to $32.92 per ounce. Platinum gained 0.85% to go for $970.07 per ounce, and palladium advanced by 0.19%, selling at $960.74 per ounce.
