Gold climbed to its highest intraday level since the end of October, with traders monitoring the outlook for the global economy as US President Donald Trump continued sketching out his views on trade and immigration policies.

Investors turned more bullish on gold as President Trump was signing the various Executive Orders that would begin enacting his aggressive policies. As a result, the SPDR Gold Shares ran through the top of its range at $250, initiating what is referred to as a “Volatility Rally”.

The newly elected president has not provided any specific details about the universal tariffs or extra surcharges on key trade partners.

Gold prices edged higher on Monday, bolstered by a weaker U.S. dollar, as markets assessed the potential economic impact of U.S. President Donald Trump's second-term policies following his inauguration.