Gold hits new high, price soars above $3,200/ounce

Gold prices breached the $3,200 per ounce level for the first time on Friday as investors rushed toward safe-haven assets amid an escalating trade war following US President Donald Trump's tariffs and a weaker dollar. Bullion scaled an all-time peak of $3,219.84 earlier in the session. It has gained around 5% this week.