Gold hit a record high, with investors flocking to safe havens after US President Donald Trump reiterated threats to impose tariffs on Mexico and Canada.

Gold futures were broadly flat at $2,845 a troy ounce, having reached a fresh record of $2,859.50 a troy ounce earlier in the session. Gold prices have likely climbed on a swift move from investors to safety due to Trump tariff threats,

Gold prices rose to hit a lifetime high on Thursday while the focus was also on a crucial inflation report for clues on the Fed's policy path.