Dhaka, April 16 -- Gold prices scaled a record peak on Wednesday as a weaker dollar, escalating trade tension and concerns over global economic growth fuelled demand for safe-haven bullion.

Spot gold rose 1.7 per cent to $3,282.88 an ounce as of 0457 GMT. It hit a fresh high of $3,290.10 per ounce earlier in the session.

US gold futures gained 1.8 per cent to $3,299.60, reports Reuters.

"A confluence of factors such as dollar depreciation and ongoing risk aversion are working in gold's favour," said Tim Waterer, chief market analyst at KCM Trade.

The dollar index eased 0.5 per cent against its rivals, making gold more attractive for other currency holders.

Further escalating the US-China trade tensions, on Tuesday said it would take ...