By Brijesh Patel (Reuters) -Gold prices fell 2% on Friday and were en route for a weekly dip as the dollar rose and signs of easing U.S.-China trade tensions after a report that Beijing has exempted some U.

Gold fell for a second day as the White House struck a softer tone on Federal Reserve independence and investors weighed Trump administration comments on trade.

Advocates of investing in gold call it a “safe haven” — arguing the commodity can serve to diversify and balance your investment portfolio, as well as mitigate possible risks down the road. Some also take comfort in buying something tangible that has the potential to increase in value over time.

With economic uncertainty rising under President Donald Trump’s agenda and some analysts warning of a recession, many Americans are flocking to gold as a financial safe haven. Gold prices soared to a record high of $3,