Gold for UK investors set new records for the second trading day in succession, peaking at £1514 per ounce.
Gold prices in Euro terms also reached new all-time highs at €1660 per ounce.
"Clearly the US Dollar is really being questioned very openly. The question is: If you're negative the Dollar what are you positive on?" said Robert Rennie, global head of market strategy at Westpac.
"Gold is the one asset market that is really reflecting heightened risks from rising geopolitical tensions."