Doha: Gold surged to a fresh record above $4,800 on Wednesday, buoyed by safe-haven demand and a softer dollar as geopolitical tensions flared. Spot gold rose 1.2 percent to $4,818.03 per ounce, after scaling a record peak of $4,836.24 earlier in the session. US gold futures for February delivery added 1 percent to $4,813.50 per ounce.

According to Qatar News Agency, the dollar languished near three-week lows against the euro and Swiss franc after White House threats over Greenland triggered a broad selloff in US assets. Spot silver added 0.1 percent to $94.68 an ounce, after hitting a record high of $95.87 on Tuesday.

Spot platinum gained 0.9 percent to $2,485.50 per ounce after hitting a record $2,511.80 earlier in the day, while palladium firmed 0.4 percent to $1,873.18.