Mumbai, Jan. 20 -- Gold resumed gains and touched a new record as the U.S. dollar weakened against most of its major peers following President Donald Trump's latest tariff threats against Europe over Greenland. Spot gold traded up 1.6 percent at $4,669.82 an ounce, after having hit a high of $4,690.75 in early Asian trade. U.S. gold futures were up 1.7 percent at $4,674.09.

The dollar index was under pressure, as investors shifted toward safe-haven assets such as the Japanese yen and the Swiss franc, reflecting a risk-off sentiment in financial markets. Trump vowed to slap a 10 percent tariffs on eight European nations starting Feb.1, which could rise further to 25 percent in June unless the U.S. is allowed to buy Greenland.

Former U.S....