Gold prices are approaching record highs as markets react positively to President Trump’s measured approach to tariffs in his first days in office. Despite campaign promises, Trump’s first 24 hours in office have been marked by a more gradual approach to tariffs, with targeted threats rather than immediate universal implementation. This measured stance has weakened the US dollar, benefiting gold prices which have broken above key resistance at $2,715-20. Technical analysis suggests bullish momentum following a breakout from a November-December symmetrical triangle pattern, positioning the metal for a potential test of record highs near $2,790 or even $2,800+. However, a drop below $2,715 could trigger a pullback toward the 100-day moving average around $2,650.