Ammon News - Gold prices rose on Tuesday with global trade tensions supporting demand for safe-haven assets, and investors awaiting U.S. inflation data due later in the day that could give clues on the Federal Reserve's interest rate path.

Spot gold was up 0.5% at $3,360.35 per ounce, as of 0436 GMT. U.S. gold futures gained 0.3% at $3,369.50.

"Gold has shown in the past that it is an asset of choice when tariff tensions are ratcheted up, and the precious metal's move towards $3,350 is evidence of this pattern playing out again," KCM Trade Chief Market Analyst Tim Waterer said.

U.S. President Donald Trump on Saturday threatened to impose a 30% tariff on imports from Mexico and the European Union starting on August 1 if they failed to reach a trade deal.

Meanwhile, the U.S. consumer price data for June is due at 1230 GMT on Tuesday.

Economists polled by Reuters expect headline inflation to increase to 2.7% on an annual basis, up from 2.4% in the prior month. Core inflation is expected to rise to 3.0%, from 2.8%.

Elsewhere, spot silver was steady at $38.15 per ounce, after hitting its highest level since September 2011 on Monday.

Platinum rose 0.8% to $1,374 and palladium edged 0.2% higher to $1,196.10. Reuters