Gold prices held steady on Tuesday after dropping more than 3% in the previous session, with some support coming from President-elect Donald Trump's proposed tariffs on all imports from Canada, Mexico,

Gold fell as the dollar jumped after President-elect Donald Trump threatened import tariffs of 25% on Canada and Mexico.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City,

WASHINGTON—President-elect Donald Trump pledged that soon after taking office he will slap steep tariffs on Mexico and Canada, two of America’s closest allies, as well as China, the clearest indication since his election victory that he plans to follow through on the tough campaign rhetoric that helped propel him to the White House.

The dollar rallied sharply on Tuesday after U.S. President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico, and additional tariffs on China. Asian stocks declined, giving back some of the robust gains of the previous session,