Gold continued its historic rally in early Thursday trading, fueled by growing demand for safe-haven assets as geopolitical tensions flare between the United States and its key trading partners.

Latest Price Movements:

Spot gold rose 0.1% to $3,346.20 per ounce by 00:08 GMT, after hitting an all-time high of $3,357.40 earlier in the session.

U.S. gold futures climbed 0.4% to $3,359.50, according to Reuters data.

On Wednesday, gold broke through the $3,300 barrier for the first time, setting new record highs amid escalating trade and technology disputes. U.S. President Donald Trump ordered an investigation into potential new tariffs on all basic metal imports, as well as a review of pharmaceutical and semiconductor imports.

In response, China instructed airlines to halt further deliveries of Boeing aircraft, while the U.S. imposed new restrictions on the export of Nvidia’s H20 AI chips to China.

Key Drivers Behind Gold’s Rally:

Gold has gained over 27% since the beginning of the year.

The metal is widely regarded as a hedge against inflation and a safe store of value during times of political and economic uncertainty.The U.S. dollar has weakened against its peers, hovering near a three-year low recorded last week, making gold more attractive to non-dollar investors.

Other Precious Metals:

Silver edged up 0.1% to $32.78 per ounce.Platinum gained 0.2%, reaching $969.05.Palladium fell 0.7% to $964.75.