Ammon News - Gold prices rose on Tuesday amid continued uncertainty over U.S. President Donald Trump's tariff plans and its impact on the global economy.

Spot gold was up 0.6% to $3,229.93 an ounce, as of 0501 GMT, not far from Monday's record high of $3,245.42.

U.S. gold futures rose 0.6% to $3,246.50.

"Gold continues to firm today ... on ongoing investors' demand for defensive assets to mitigate portfolio volatility as the U.S. seems to be setting the stage for more tariffs to come," IG market strategist Yeap Jun Rong said.

Trump said on Sunday he would be announcing the tariff rate on imported semiconductors over the next week, keeping market participants on edge.

With gold prices recently hitting a new high, the upward trend remains intact and as long as tariff uncertainties drag on, bullion may remain supported, Yeap said.

Spot silver was steady at $32.33 an ounce, platinum slipped 0.1% to $950.65 and palladium fell 1.1% to $945.19. Rueters