Concerns over intensifying US-China trade war...International gold prices hit record high

The international gold price hit a new all-time high on the 10th (local time), as demand for gold, a leading safe-haven asset, increased amid concerns over the falling value of the US dollar and the intensifying trade war between the US and China.
According to Reuters, spot gold was trading at 3,160.82 per ounce at 1:54 p.m. Eastern Standard Time, up 2.6% from the previous trading day.
Gold futures for June delivery also closed at $3,177.5, up 3.19% from the previous trading day, hitting a new all-time high.
"Gold has regained its safe-haven appeal and is heading towards record highs," said Nikos Chavras, chief market analyst at trading platform Tradoo.
"However, any new US agreements with major trading nations could pose a threat to gold prices," he said.
"If the outlook for a cut in the reserve fund rate weakens and the dollar strengthens, this could be a headwind for gold prices," he said.
The dollar's value fell to its lowest level since October last year. The U.S. consumer price index for March was released before the tariff policies of the Donald Trump administration were fully implemented.
Although the CPI unexpectedly fell, inflation concerns remain as President Trump tightened tariffs on Chinese goods.
Market participants are betting that the Fed will resume cutting interest rates in June. The Fed is expected to cut interest rates by a total of 1 percentage point by the end of the year.
"The central bank is likely to cut interest rates in the future," said Alex Ebkarian, chief operating officer at precious metals trading firm AllianceGold.
"People continue to buy gold and as long as there are inflows into exchange-traded funds (ETFs) and monetary policy risk, the main drivers supporting gold prices remain in effect."