Gold was climbed to a new historical high on Wednesday, as concerns about the global economy caused by the escalating US trade war with China are turning more and more investors to seek refuge in precious metal safety.

The gold spots price touched yesterday $ 3,357.40 a ounce before it retreated slightly. On Thursday morning the precious spot price was moving to $ 3,342.14 with a rose 0.38%, according to Gold Price

The June tradition of gold, also climbed to record levels at $ 3,371.90 a ounce, to drop a little lower to $ 3,357.50.

The price of gold has risen about 30% from the beginning of the year, as Donald Trump’s duties policy has increased concerns about slowing economic growth and prices rise, something that Federal Reserve, Jerome Paul, pointed out on Wednesday.

An indication of the demand recently recorded for precious metal is the fact that analysts compare this year’s gold rally with what it noted during the Iranian revolution more than 40 years ago, when prices jumped by almost 120% from November 1979 to January 1980.

Gold surpassed the $ 3,000 Dollar for the first time last month, amid the uncertainty that Trump’s economic policy began to cause.

Analysts point out that investors flock to gold in search of “compensation for both inflationary pressures and government recklessness”.