Gold rose close to a record high after US President Donald Trump signaled a less aggressive approach to China, weakening the dollar.

Gold prices rose nearly 1% on Friday, lingering near record high levels scaled in October, steered by U.S. President Donald Trump's calls to lower interest rates and uncertainty surrounding his trade policies.

Beijing contends with a weakening yuan while awaiting policy clues from the incoming Donald Trump’s administration.

Investors should rule out nothing from the Federal Reserve in 2025 if the newly minted Trump administration uncorks fresh tariffs on China and the European Union. "I think rate hikes are possible. Anything is possible.

The Chinese currency jumped against the US dollar as trade war worries receded, but some fear the gains may be ‘short-lived’.

President Donald Trump ordered the creation of a digital asset working group on Thursday which, among other things, would be tasked with exploring a U.S. cryptocurrency stockpile.

Trump stated on Tuesday that his administration is discussing imposing a 10% tariff on goods imported from China on February 1 because fentanyl is being sent from China to Mexico and Canada, per Reuters.

Trump threatened tariffs of as much as 60% on China during his campaign but has tempered his plans. Canada and Mexico are now being threatened with a 25% tariff.

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Global shares rose on Friday buoyed by the prospect of lower U.S. interest rates and a U.S.-China trade deal following comments from President Donald Trump,

Stock market experienced a pause today, January 24, 2025, Friday, as the Dow declined, while the S&P 500 and Nasdaq also faced a slowdown. Investors are closely analyzing recent earnings reports and the impact of the President Trump’s trade policies on China.

The $273.5 billion of inflows for 2024 topped the $177.4 billion in 2023 though it was below the $375 billion average between 2019-2021, according to the report from the Institute of International Finance.