The world's demand for gold hit another record high in 2024 amid robust central bank purchases and investment demand growth, the World Gold Council said.

Gold prices hit an all-time high on Monday, bolstered by safe-haven inflows after U.S. President Donald Trump's tariffs on Canada, China and Mexico added to concerns of inflation that would dent economic growth.

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.