Gold prices settled above the $3,000 an ounce level on Wednesday after rising about 1 percent, with U.S. trade tariffs taking effect, the dollar falling and escalating trade tensions between the world's two largest economies, boosting demand for safe-haven assets.
Spot gold rose 0.94 percent to $3,011.2 an ounce. U.S. gold futures rose 1.18 percent to $3,025.50.
The new additional tariffs affect about 60 U.S. trading partners and range from 11 percent to 50 percent, with the exception of China, whose products are now subject to a 104 percent tax.
Source (Al-Arabiya.net Website, Edited)