Khaberni - Gold prices rose to a new record high above $4,100.0000 per ounce in Asian trading on Tuesday, as renewed tensions between the United States and China led investors to flock to safe havens, while silver also rose to new record levels.
Spot gold traded up 1.3% at $4,164.8000 per ounce by 07:17 Saudi time, after earlier in the session reaching a new record high of $4,169.6600. U.S. gold futures also increased by 1% to $4,175.9200.
The latest escalation came after U.S. President Donald Trump threatened to impose tariffs of 10% on Chinese imports in response to Beijing's restrictions on exports of critical metals used in electronics and defense.
Trump later softened his stance, writing on social media, "Don't worry about China" and that the United States was not seeking to cause any harm to China.
