Gold prices climbed on Wednesday as uncertainty over U.S.-China trade relations and global economic concerns boosted safe-haven demand. Spot gold was up 0.3% at $3,361.03 an ounce, as of 0358 GMT. U.S.

Gold prices are rising due to mutual accusations between the US and China of violating the trade agreement, as well as tensions in Ukraine. Investors are seeking safe assets, which is driving up the value of the precious metal.

The dollar index (DXY00) today is down by -0.67% at a 1-1/4 month low. Escalation of US-China trade tensions has led to a selloff of the US dollar after China accused the US of violating their recent trade deal by unilaterally introducing new discriminatory restrictions.