Gold prices climbed toward historic highs, trading near $2,770 per ounce as President Trump’s softened stance on China tariffs triggered a dollar decline. In a Fox News interview, Trump expressed reluctance to impose levies on China, causing the dollar to drop 0.7% and making gold more attractive to international buyers. The precious metal has gained nearly 3% this week, bolstered by safe-haven demand amid economic uncertainty surrounding the new administration’s policies. While Trump’s comments on European tariffs and calls for immediate interest rate cuts added complexity to the market outlook, UBS strategist Joni Teves suggests investors will likely maintain gold positions as a safe haven and portfolio diversifier, even during periods of dollar strength. The metal’s trajectory has been supported by Federal Reserve rate cuts, geopolitical tensions, and central bank purchasing, with traders now monitoring how Trump’s domestic agenda might impact inflation and monetary policy.