Gold prices touched near three-month highs on Friday and were set to post a fourth straight weekly gain, buoyed by uncertainty about U.S. President Donald Trump's tariff plans and his calls to lower interest rates weighing on the dollar.

Gold held near the highest level since October, as traders considered the impact President Donald Trump’s latest tariff threats against China and the European Union could have on the global economy.

Gold rose to near a record high as the dollar fell after President Donald Trump signaled a less aggressive approach to China.

Gold eased on Thursday as the dollar ticked up and prices consolidated after hitting an over three-month-high in the prior session, while focus remained on U.S. President Donald Trump's policies.

Investors turned more bullish on gold as President Trump was signing the various Executive Orders that would begin enacting his aggressive policies. As a result, the SPDR Gold Shares ran through the top of its range at $250, initiating what is referred to as a “Volatility Rally”.