Gold prices rose on Wednesday, remaining near record highs as investors sought the precious metal as a safe haven amid renewed trade tensions between the United States and China, rising global uncertainty, and expectations of another potential U.S. interest rate cut.
Spot gold increased by 0.4 percent to $4,155.99 per ounce, while U.S. gold futures for December delivery rose 0.3 percent to $4,174.30.
The precious metal, regarded as a safe haven during times of uncertainty, has gained 55 percent since the start of this year and hit a record high of $4,179.48 on Tuesday.
