U.S. gold mining stocks surged before the market opened, with Newmont rising over 10%, and gold breaking the 3,300 mark to continue hitting new highs.

① The spot Gold price broke through $3,300, reaching a daily high of $3,317.82 per ounce. Influenced by the rise in Gold prices, gold mining stocks in the U.S. strengthened overall before the market opening; ② Analysts state that concerns over a Global economic recession triggered by the trade war, along with investors' difficulties in establishing long-term positions, have made Gold a safe-haven Asset. Additionally, factors like the depreciation of the dollar and expectations of interest rate cuts by the Federal Reserve have supported Gold prices.

cls.cn17:32

Safe-haven Gold Hits Record High on Weak Dollar, Trade War Woes

The Edge Markets16:31

The weak dollar and the escalating trade war are driving the surge as Gold soars close to 3,300 dollars.

As the dollar weakens, trade tensions escalate, and concerns about Global economic growth rise, the demand for safe-haven Assets has pushed Gold prices to break historical records again on Wednesday.

Zhitong Finance14:48

Trump triggers an explosive market for Gold! The gold price astonishingly surges over 55 dollars to a new high, FXStreet senior Analyst's analysis on gold Trade.

In Wednesday's Asian market, spot Gold maintained a strong surge during the day, with prices reaching 3,285 USD per ounce, an increase of over 55 USD for the day. FXStreet Senior Analyst Dhwani Mehta stated that Gold prices resumed their record rise on Wednesday, targeting 3,300 USD per ounce.

FX16813:08

Gold Climbs To Record As Trade War Continues

Business Today13:00

More "crazy" than Gold! Under Trump's trade war, this MMF has seen an astonishing increase this year, becoming the best in the Global market.

According to a report by Bloomberg USA, as Trump's trade war impacts the dollar, the Russian Ruble has surged, becoming the best-performing Global MMF, reaching the biggest increase against the dollar this year, even surpassing traditional safe-haven asset Gold. Data compiled by Bloomberg shows that since the beginning of this year, the Ruble has skyrocketed 38% against the dollar in the OTC market, a greater increase than Gold's 23%.

FX16812:41