Gold prices firmed on Tuesday, holding near a record peak hit in the previous session, as lingering U.S. tariff and inflation concerns boosted safe-haven demand, while focus was also on key jobs data due this week.

Gold prices surged to a record high on Monday as investors sought out safe-haven assets amid uncertainty caused by US President Donald Trump’s tariff policies and lingering inflation concerns. The price of international spot gold rose 0.

Investors are typically drawn to gold because of its diversification benefits and track record of being a hedge against inflation. Gold prices often rise during periods of economic turmoil, such as during the 2008 financial crisis or the collapse of Silicon Valley Bank in 2023.