Gold rose above $5,260 per ounce on Wednesday, hitting new record highs as a sharp decline in the dollar fueled investor demand for safe-haven metals. Those moves came as US President Donald Trump said that he is not concerned about the dollar’s recent drop as it sinks to its lowest level in four years, signaling that the administration is comfortable with a weaker greenback to support export competitiveness. Policy uncertainties in Washington, including Trump’s tariff threats against other nations and attacks on the Federal Reserve’s independence, further underpinned the rally in precious metals. Meanwhile, the Fed is widely expected to hold interest rates steady on Wednesday, with markets focused on any guidance regarding the timing of the next rate cut. Gold has also benefited from robust central bank buying and continued ETF inflows. The yellow metal has surged about 25% year-to-date, while silver has jumped nearly 60%.