Safe-haven demand due to geopolitical uncertainties and concerns over global economic growth amid U.S. President Donald Trump's tariff plans have hoisted gold prices to a record high, once again bringing the key $3,

This also comes after the US Federal Reserve (Fed) kept interest rates unchanged at 4.25-4.5 per cent on Wednesday.

Investors turned more bullish on gold as President Trump was signing the various Executive Orders that would begin enacting his aggressive policies. As a result, the SPDR Gold Shares ran through the top of its range at $250, initiating what is referred to as a “Volatility Rally”.