PRECIOUS-Gold hits record high on economic growth concerns

April 16 (Reuters) - Gold prices raced to an all-time high on Wednesday, driven by a weaker dollar, trade war tensions and concerns over global economic growth due to U.S. President Donald Trump's tariff plans which led to safe-haven inflows.

FUNDAMENTALS

Spot gold XAU= climbed 1.1% at $3,261.79 an ounce, as of 0028 GMT, after touching a record high of $3,266.65 per ounce earlier in the session. U.S. gold futures GCcv1 firmed 1.2% to $3,279.20.

The dollar index .DXY eased 0.3% against its rivals, making gold more attractive for other currency holders. USD/

Gold, traditionally viewed as a safe-haven investment during times of geopolitical and economic uncertainty, and typically thriving in a low-interest-rate environment, has hit multiple record highs this year. GOL/

Federal Register filings on Monday showed the U.S. administration is advancing investigations into pharmaceutical and semiconductor imports in a bid to impose tariffs.

Last week, Trump raised duties on China to 145%, prompting Beijing to jack up levies on U.S. goods to 125%.

Investors now await U.S. retail sales data due later in the day for insights into the economy and the Federal Reserves monetary policy plans.

"Increasing risks of a deeper recession, another turn in the geopolitical landscape, disruptions in global supply chains, fears of rising inflation along with a changing rate outlook suggest that gold will remain on strong footing in the foreseeable future," ANZ said in a note.

ANZ raised its year-end gold price forecast to $3,600 per ounce and six-month forecast to $3,500.

Spot silver XAG= rose 0.3% to $32.40 an ounce, platinum XPT= fell 0.1% to $958.15 and palladium XPD= eased 0.1% to $970.25.

DATA/EVENTS (GMT)

0200 China Urban Investment(YTD) YY, Retail Sales YY, Unemp Rate Urban Area Mar

0200 China GDP YY Q1

0600 UK Core CPI, CPI YY Mar

0600 UK CPI Services MM, YY Mar

0900 EU HICP Final MM, YY Mar

1230 US Retail Sales MM Mar

1315 US Industrial Production MM Ma