Nigeria, June 3 -- Gold surged over $3,350 an ounce in early morning trading Monday as global uncertainties from a new wave of United States-China trade tensions to military tensions rising in Eastern Europe continue to drive the precious metal upward.

Global investors again seem to be flocking to gold as a haven as they continue to experience mounting instability.

Up to 9:57 a.m. Nigerian time, the spot gold increased from $3,287.93 to $3,353.69 an ounce, over 2 percent above. The recent jump tops months of ambiguity, making gold a long-term protection against risk in the face of economic and geopolitical uncertainty.

The recent surge takes place against the background of increased tensions between the two largest global economies. Th...