Gold prices hit an over 11-week peak on Wednesday, not far from an all-time peak touched last year, boosted by safe haven demand stemming from uncertainty surrounding U.S. President Donald Trump's trade policies and a softer dollar.

The newly elected president has not provided any specific details about the universal tariffs or extra surcharges on key trade partners.

Gold prices surged to an 11-week peak on January 22, 2025, as safe-haven demand gained momentum amid uncertainty over U.S. President Donald Trump’s aggressive trade policies. A softer dollar further bolstered the metal’s appeal,

Gold prices firmed on Monday, supported by a weak U.S. dollar, as markets awaited Donald Trump's return to the White House and his inauguration speech later in the day for hints on the impact of his upcoming policies on the economy and rate-cut outlook.

Gold climbed to its highest intraday level since early November, with traders monitoring the outlook for the global economy as President Donald Trump continued to sketch out his views on trade and immigration policies.

Prices of safe-haven gold rose to a near three-month high on Wednesday, boosted by uncertainty surrounding U.S. President Trump's policies and a softer dollar. Spot gold added 0.6% to $2,759.83 per ounce as of 0941 GMT.

The start of Trump’s presidency has ushered in significant uncertainty and volatility, but so far, it has proven favorable for gold and silver by sparking a scramble for physical bullion.

Gold prices surged to over a two-month high on Tuesday as the U.S. dollar weakened, with the precious metal also supported by buying amid uncertainty surrounding Donald Trump's trade policies. Spot gold climbed 0.