Gold prices hit an all-time high this week as investors braced for economic turmoil fueled by President Donald Trump’s trade war. On Monday, the going price for New York spot gold hit a record $3,122.

Global shares edged higher in choppy trading on Tuesday, while safe-haven gold soared to a record peak as markets awaited details of U.S. President Donald Trump's tariff plans.

Gold prices climbed to a new high as U.S. President Donald Trump's widening trade war prompts investors to seek refuge in the precious metal. In early trade, futures rose 1% to $3,090.30 a troy ounce and are up more than 8% on the month.

Gold prices eased on Tuesday on profit-taking but remained near record highs as investors turned to the safe-haven asset ahead of President Donald Trump's planned announcement of sweeping tariffs on countries that have a trade imbalance with the U.

Gold hit a record at the start of the new quarter as a major escalation in US President Donald Trump’s trade tariffs due this week heightened concerns about the global economy and fanned haven demand.