Gold prices settled Thursday at their highest level in four weeks, defying their usual inverse relationship with strength in the U.S. dollar and gains in Treasury yields, as fiscal worries prompt investors seek out safe-haven assets.

Gold prices edged lower on Wednesday, pressured by higher U.S. Treasury yields and a stronger dollar after data suggested the Federal Reserve might slow the pace of rate cuts this year. Spot gold was down 0.

Gold prices rose on Tuesday as the US dollar eased due to uncertainty around President-elect Donald Trump’s tariff plans, with further support coming from top consumer China’s central bank adding to its gold reserves for a second straight month.