02:00 PM EDT, 04/01/2025 (MT Newswires) -- (Updates prices.)

Gold edged down from a record high midafternoon on Tuesday, falling for the first time in four sessions even as safe-haven buying continues amid U.S. tariff threats that are upsetting financial markets.

Gold for June delivery was last seen down US$4.00 to US$3,146.30 per ounce, rising off Monday's record close.

The rise comes ahead of a fresh round of tariffs coming Wednesday from U.S. President Donald Trump. Trump is calling the announcement 'Liberation Day', planning a ceremony and press conference to detail the new duties, even as stock markets trend lower on fears the measures will raise inflation and slow growth.

"Trump's looming tariff announcement underpins current strong momentum (for gold) amid safe haven demand amid investors seeking diversification from a troubled stock market," Saxo Bank noted.

The dollar was steady, with the ICE dollar index last seen unchanged at 104.21. Treasury yields moved down, with the yield on the U.S. two-year note last seen down 2.8 basis points to 3.867%, while the 10-year note was paying 4.162%, down 4.8 points.