Gold climbs to record as Trump signals dollar weakness, UBS warns of U.S. decline

Gold surged to a fresh record above $5,300 as the dollar weakened after Trump suggested a weaker greenback could help exports; UBS and other analysts warn the dollar’s decline could fuel a narrative of relative U.S. decline and shift capital away from dollar assets, while some expect further weakness. The move comes as stocks hover around records and gold remains a hedge, with Bitcoin retreating over the past year.