Gold prices climbed for a second consecutive session on Tuesday, hitting a one-week high as mounting Russia-Ukraine tensions sparked a rush for safe-haven assets, while investors awaited key signals on the Federal Reserve's interest rate plans.

Gold prices rose for the second consecutive session, reaching $2,626 per ounce amid geopolitical tensions and a weaker dollar. A Goldman Sachs report predicts prices could hit $3,000 by December 2025,

Gold futures ( GC=F) hovered at a one-week high to trade near $2,630 per ounce on Tuesday as traders assessed the threat of a nuclear escalation in the Russia-Ukraine war. The precious metal extended its gains from Monday as investors flocked to the asset traditionally seen as a safe haven during times of geopolitical uncertainty.