Gold rose more than 1% on Thursday as investors flocked to safe-haven bullion after the U.S. hiked tariffs on China, the top metals consumer, escalating the already heated trade war, despite a 90-day pause on tariffs for other countries.

The value of the precious metal hit an all-time high of $3,167.71 on 3 April. But it then plunged in moves blamed on profit-taking, plus a sell-off to meet losses elsewhere.

Gold futures added to gains into electronic trading, after prices had already gained 3% during regular trading for its largest one-day percentage gain in a year and a half.