India, March 28 -- Gold prices hit another record higher on Friday as tariff worries mounted and investors awaited a key U.S. inflation reading.
Spot gold rose half a percent to $3,071.66 per ounce in European trade while U.S. gold futures were up 0.6 percent at $3,110.09.
The dollar was under pressure due to falling yields and rising trade risks. Analysts said Trump's auto tariff threat will disrupt global trade and underpin local inflation.
Moody's has warned that new tariffs and tax cuts could widen the U.S. deficit, raising the risk of a credit downgrade.
Fed officials are sending mixed signals on monetary policy as trade-linked inflation risks mount.
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