Gold prices remained steady on Tuesday, following a drop of 3 percent in the previous session, as there was an increase in demand for safe-haven assets due to President-elect Donald Trump's announcement of tariffs on imports from Canada, Mexico, and China.
Spot gold was reported at $2,625.48 per ounce, while US gold futures increased by 0.3 percent to $2,625.80. Analysts have observed that despite the recent decline, gold continues to attract investors seeking safe-haven investments.
Matt Simpson, a senior analyst at City Index, has highlighted the possibility of further market volatility as Trump's policies become clearer.