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• Gold prices rose for a third session on Tuesday as the dollar languished near a five-week low, as investors eyed rising tensions between Russia and the West even as a U.S.-China trade spat appeared to ease.

Spot gold edged up 0.1 percent to $1,354.51 per ounce at 0446 GMT, just off Monday's $1,355.97, the metal's highest level since Feb. 16.

U.S. gold futures for April delivery were flat at $1,354.60 per ounce.

• "Gold prices continue to ratchet higher as the U.S. dollar weakens despite equity markets rebounding on easing concerns about the likelihood of a trade war between China and USA," Stephen Innes, APAC trading head at OANDA, said in a note.

"Realistically there are plentitudes of market turmoil in the making that continue to make gold the go-to place to hedge risk."

• Against a basket of six other major currencies, the dollar index was flat at 89.043. The index fell to a five-week low of 88.979 on Monday.

• On Monday, gold prices rose to a more than five-week high after the United States said it would expel 60 Russian diplomats, joining governments across Europe in punishing the Kremlin for a nerve agent attack on a former Russian spy in Britain.

Russia's Foreign Ministry called the expulsions a "provocative gesture".

• Analysts also see the yellow metal being supported by last week's statement from the U.S. Federal Reserve which forecast at least two more hikes for 2018 instead of the three that many had expected.

• "The Federal Reserve's March meeting emerged as a turning point for gold," analysts at UBS said in a note.

UBS on Monday raised its three-month forecast range to $1,300-$1,400 per ounce, and six- and 12-month forecasts to $1,375.

• In other precious metals, spot silver gained 0.6 percent to $16.75 per ounce. In the previous session prices hit $16.79, their highest since March 7.

Platinum was up 0.5 percent at $957 per ounce, while palladium rose 0.3 percent to $976.47 per ounce.