Gold prices held steady on Wednesday as stronger U.S. jobs data countered safe-haven demand driven by simmering trade tensions between the U.S. and China. Spot gold was steady at $3,349.19 an ounce, as of 1145 GMT.

The dollar index (DXY00) today is down by -0.67% at a 1-1/4 month low. Escalation of US-China trade tensions has led to a selloff of the US dollar after China accused the US of violating their recent trade deal by unilaterally introducing new discriminatory restrictions.

Gold prices are rising due to mutual accusations between the US and China of violating the trade agreement, as well as tensions in Ukraine. Investors are seeking safe assets, which is driving up the value of the precious metal.