Baku: Gold prices surged to hit a new record high in Asian trading on Tuesday, buoyed by sustained safe-haven appeal over elevated U.S.-China trade tensions, and concerns around President Donald Trump's plan to overhaul the Federal Reserve: Spot Gold jumped 1.7% to $3,482.76 per ounce, while Gold Futures expiring in June surged 1.9% to $3,491.20 an ounce. According to Azeri-Press News Agency, gold jumped more than 3% on Monday and has hit consecutive record highs in the previous three sessions. This surge is driven largely by escalating geopolitical risks, strong central bank demand, and persistent inflation concerns. The current economic climate, marked by geopolitical uncertainties and monetary policy shifts, has amplified gold's appeal as a safe-haven asset. Analysts suggest that the ongoing trade tensions between the U.S. and China continue to create volatility in the markets, prompting investors to turn to gold to hedge against potential economic downturns. Furthermore, discussions surrounding changes at the Federal Reserve under President Trump's administration have added an additional layer of uncertainty, influencing market sentiment and contributing to the upward trajectory of gold prices.