Ammon News - Gold prices extended their record rally on Tuesday, as concerns over U.S. President Donald Trump's criticism of Federal Reserve Chair Jerome Powell dampened risk sentiment and drove investors towards safe-haven bullion.

Spot gold was up 1.7% at $3,482.26 an ounce, as of 0434 GMT, after touching a record high of $3,494.66 per ounce earlier in the session.

U.S. gold futures firmed 2% to $3,492.60.

Gold, viewed as a safe-haven asset amid economic uncertainties, surpassed the $3,300 mark last Wednesday and continued its upward trajectory, crossing $3,400 on Monday.

However, gold's relative strength index (RSI) stands at 79, indicating that the metal is overbought.

Markets are eagerly anticipating speeches from several Fed officials later this week, hoping for insights into future monetary policy amid concerns about central bank's independence.

Spot silver rose 0.5% to $32.86 an ounce, platinum gained 0.9% to $969.95, while palladium was up 2% at $946.17. Reuters