Gold hits 3-month high after Trump comments on interest rates, tariffs

Gold prices touched a near three-month high on Friday and were set for a fourth straight weekly gain, supported by uncertainty over U.S. President Donald Trump’s plans for tariffs and his calls for lower interest rates, which weighed on the dollar.

Spot gold rose 0.7 percent to $2,773.57 an ounce, and has gained more than 2 percent so far this week.

Earlier in the day, prices rose to $2,777.10, their highest since Oct. 31 when they hit $2,790.15. U.S. gold futures rose 0.6 percent to $2,781.

The dollar fell more than 1 percent on the week, heading for its worst weekly decline in two months, making gold cheaper for holders of other currencies.