Gold futures rose, gaining from a softer dollar after Trump rejected reports of a more moderate trade policy approach. China raised its gold reserves for the second straight month.

Gold futures were rising after China boosted its gold reserves for the second consecutive month. Futures were up 0.45% at $2,659.30 a troy ounce. The People's Bank of China bullion reserve rose to 73.

China’s central bank expanded its gold reserves for a second month in December, signaling renewed appetite after temporarily pausing purchases last year as prices soared.