Gold rose for a second day as investors weigh President Donald Trump’s tax bill, which is expected to further expand US deficits.

Gold climbed more than 1% on Tuesday as investors sought safe haven assets after U.S. President Donald Trump's "big, beautiful bill" passed in the Senate, ahead of the July 9 deadline for trade tariffs.

Gold futures jumped more than 1% on Tuesday as investors sought safe-haven assets after the U.S. Senate passed President Trump's tax and spending bill, which analysts expect will widen the U.S. fiscal deficit by more than $3 trillion over the next decade.