India, April 16 -- Gold prices jumped over 2 percent on Wednesday, as a weaker dollar and rising U.S.-China tensions boosted safe-haven demand for the precious metal.
Spot gold surged 2.4 percent to $3,303.70 per ounce in European trade while U.S. gold futures were up 2.6 percent at $3,322.94.
Traders pondered the effects of U.S.-China trade war on inflation and global economic growth.
China now faces up to a 245 percent tariff on imports to the United States as a result of its retaliatory actions, the White House said in a statement on Tuesday evening, prompting a greater demand for bullion.
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