India, Feb. 5 -- Gold prices hit a new record high on Wednesday amid rising U.S.-China trade tensions and reports suggesting that central banks stormed into the gold market in the final three months of last year.
Spot gold jumped 1 percent to $2,869.79 per ounce in European trade while U.S. gold futures were up 0.7 percent at $2,895.86.
U.S.-China trade tensions remained on investors' radar after the United States Postal Service (USPS) announced a temporary suspension of international package acceptance from China and Hong Kong.
After the U.S. and China both announced tariffs on each other's products, U.S. President Donald Trump indicated that he is in no hurry to speak to Chinese President Xi Jinping.
Meanwhile, the World Gold Council ...