Gold prices continued their record run on Wednesday, as investors sought the safe-haven asset amid escalating concerns about the U.S.-China trade war and its potential impact on economic growth. Spot gold was up 0.

Gold's record-breaking rally has soared past $2,870 per ounce, fuelled by central bank purchases, inflation concerns, and deglobalisation fears. Trade tariffs imposed by the Trump administration are further amplifying demand for safe-haven assets.

From a technical point of view, the daily chart for XAU/USD shows that the bullish momentum prevails despite overbought conditions, as technical indicators keep aiming north despite developing at extreme levels.