Gold edged higher on Thursday on a softer dollar, while investors focused on U.S. President Donald Trump's tariff plans and a key inflation report for further monetary policy cues. Spot gold was up 0.

The global economy is on edge as U.S. President Donald Trump's proposed tariffs ripple across financial markets, sparking volatility and shifts in currency values. The U.S. dollar – which had recently reached a two-year high earlier this month – has shown signs of weakness amid investor uncertainty and fallen to a two-week low,

Trump was quoted saying his team was thinking of tariffs around 25% which could be announced on Feb. 1 but offered no other specifics.

The dollar strengthened against every major currency after comments from President Donald Trump and his Treasury Secretary stoked concern that a brief respite from tariff talk was well and truly over.

The dollar was modestly lower on Thursday in a choppy session, after comments from U.S. President Donald Trump called for lower interest rates while providing no clarity on tariffs, and investors awaited a round of policy announcements from global central banks.

Trump has threatened still more tariffs, proposing 25% on goods from Mexico and Canada, an additional 10% on China and 25% on Colombia after that country initially refused deportation flights from the U.

The U.S. dollar rose on Tuesday, as concerns regarding global economies and potential trade wars continued to worry investors after U.S. President Donald Trump ramped up his tariff rhetoric.  The greenback was up 0.