Gold hits record high -

Gold prices rose to an all-time high to trade above the $2,950 per ounce level on Thursday, as concerns that US President Donald Trump's tariff threats will unleash a global trade war drove investor appetite for the metal, reports Reuters.

Spot gold climbed 0.6% to $2,951.25 an ounce, as of 1136 GMT, after hitting $2,954.69 earlier in the session, its tenth record high this year.

US gold futures gained 1.1 per cent to $2,969.30.

Gold, a safe-haven in times of uncertainty, has gained 12 per cent so far this year.

"The $3,000 level seems to be having a magnetic effect on the market and even though by most considerations the market is technically overbought, it seems determined to crack that magic level," said independent analyst Ross Norman.

Spot silver added 1.2 per cent to $33.12 an ounce. Platinum rose 0.2 per cent to $974.05, while palladium advanced 1.7 per cent to $984.59.