Gold prices reached a record high due to concerns about global economic growth caused by the trade war between the U.S. and China, as well as, due to the weakening of the dollar amid political risks.Spot gold rose by 1.4%. U.S. gold futures contracts rose 1.8%. The decline in the dollar index to a three-year low increases the attractiveness of gold for international investors. Growing geopolitical tensions, fears of stagflation and steady demand from central banks also support metal prices.