Gold Soars To New Record Closing High

(RTTNews) - Gold prices moved sharply higher during trading on Wednesday, extending the surge seen over the past several sessions.

After climbing $13.90 or 0.4 percent to $3,218.70 an ounce in the previous session, gold for April delivery soared $107.90 or 3.4 percent to a record closing high of $3,326.60 an ounce.

The precious metal continued to benefit from its appeal as a safe haven amid lingering concerns about the impact of President Donald Trump's trade policies.

Chipmakers Nvidia (NVDA) and ASML (ASML) have warned the impact of the new policies, contributing to a sell-off on Wall Street.

Gold also benefitted from weakness in the value of the U.S. dollar, with the U.S. dollar index falling by 0.7 percent to its lowest levels in three years.