New Delhi, March 28 -- Gold prices climbed to a new all-time high on Friday, driven by escalating trade war fears, as US President Donald Trump pressed ahead with plans to impose tariffs on all auto imports. The precious metal rose 0.7 per cent to breach $3,077 per ounce, surpassing Thursday's record, marking its fourth consecutive weekly gain.

Trump signed a proclamation on Thursday enforcing a 25 per cent tariff on auto imports, while warning of stricter penalties against the EU and Canada if they retaliate against the US. Additionally, markets are bracing for another wave of trade levies on April 2, as the White House plans to introduce so-called reciprocal tariffs. However, the full extent of these measures remains uncertain.

On the...