- Gold prices rose in Asian trading on Tuesday as the dollar sharply weakened, while traders attempted to assess U.S. President Donald Trump's policies following his inauguration.

- Spot gold rose by 0.3% to $2,727.39 per ounce, while gold futures expiring in February gained 0.4% to $2,743.57 per ounce.

- The U.S. Dollar Index dropped by more than 1%, but later rebounded in Asian trading hours, rising by 0.3%.

- The rise in gold prices was due to the appeal of the "haven" amid uncertainty, which led traders to brace for increased volatility as Trump begins his second term, with anticipated political announcements expected to influence market dynamics.

- The precious metal, traditionally seen as a safe-haven asset, maintained its price above its highest level in a month.

Trump has vowed to impose new trade tariffs on neighboring countries and China to reduce the trade deficit, which could boost the dollar again and thereby affect gold prices.

Conversely, platinum futures fell by 0.4% to $958.80 per ounce, while silver futures rose by 0.6% to $31.30 per ounce.

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