09:33 AM EDT, 07/11/2025 (MT Newswires) -- Gold traded higher early on Friday, rising for a third day despite a stronger dollar as safe-haven buying continues amid U.S. President Donald Trump's erratic tariff polices.

Gold for August delivery was last seen up US$37.30 per ounce.

The rise comes after Trump on Thursday said he will impose a 35% tax on imports from Canada beginning on Aug.1. In an interview with NBC News, Trump also said he will also impose blanket tariffs on most trade partners of 15% to 20%.

The tariff threats -- which are hampering global trade -- and continuing violence in the Middle East are supporting safe-haven buying, with gold up 37% over the past 12 monthsh.

"There is a broader feeling that there has been a significant increase in gold-relevant geopolitical risks this year, which has led to increased allocations among investors and reinforced the momentum among central banks, with gold now holding the second-largest portion of central bank reserves after the dollar," Christopher Louney, a commodities strategist at RBC Capital Markets wrote.

The dollar was higher early, with the ICE dollar index last seen up 0.15 points to 97.8. Treasury yields also rose, with the U.S. two-year note last seen paying 3.902%, up 1.9 basis points, while the yield on the 10-year note was up 4.5 points to 4.396%.