LONDON: Gold edged higher on Tuesday, snapping a three-session losing streak, on uncertainty over the economic policies of US President-elect Donald Trump.
Trump has vowed to boost domestic spending, which has the potential to stoke inflation and dent demand for non-yielding bullion, but the market is seeking more detail on his policies.
Spot gold had added 0.5 percent to $1,225.88 an ounce by 1527 GMT, having slipped on Monday to its lowest since June 3 at $1,211.08.
US gold futures climbed 0.3 percent to $1,225 per ounce.
"Gold will have to wait and see on when Trump moves into the White House and what policies he will cancel," Natixis precious metals analyst Bernard Dahdah said.
Trump is due to officially take power in January with promises of rolling back a major trade agreement and cutting taxes.
"There have been lots of statements of US policy, but we don't have details and we don't know what it looks like. That's fertile ground for gold," aid ETF Securities commodities strategist Martin Arnold.
Generally, investors pile into safe-haven assets such as gold in times of political and economic uncertainty.
Gold has shed nearly 9 percent from a Nov. 9 high of $1,337.40 after Trump's election victory, hurt by a stronger US dollar and surging Treasury yields.
Dallas Fed President Robert Kaplan suggested on Monday the US central bank was on track to raise rates soon.
Macquarie said it was bullish on gold in 2017 as it was supported by political and economic uncertainty.
"It is difficult to know how Trump the President will differ from Trump the candidate, at the very least it suggests a prolonged period of uncertainty, which could have a negative knock-on impact on the global economy," the bank said in a note.
Among other precious metals, silver was up 0.7 percent at $17 an ounce, having touched its lowest since June 8 at $16.61 in the previous session.
Platinum rose 0.6 percent to $939, bouncing back from the more than eight-month low of $917.50 touched on Monday.
Palladium gained 1.2 percent to $706, its highest since Oct. 4.
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