Ammon News - Gold prices rose for a second straight session on Wednesday, buoyed by safe-haven demand as markets awaited further clarity on U.S. President Donald Trump's trade policies.

Spot gold was up 0.1% at $3,022.63 an ounce by 0909 GMT, while U.S. gold futures steadied at $3,026.70.

"It is the safe-haven function of gold which is providing support (to prices), and one of the reasons driving that is the U.S. tariffs policy," Quantitative Commodity Research analyst Peter Fertig said.

Trump's tariff policies are widely expected to weigh on economic growth and trigger further trade tensions. Trump said on Monday automobile tariffs are coming soon, but indicated that not all of his threatened levies would be imposed on April 2 and some countries may get breaks.

Gold, traditionally seen as a hedge against uncertainty and inflation, has risen more than 15% this year and hit an all-time peak of $3,057.21 on March 20.

Spot silver was down 0.3% at $33.63 an ounce, while platinum lost 0.7% to $969.40. Palladium slipped 0.6% to $950.67. Reuters