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.

Global shares edged up and the dollar traded near multi-year lows on Tuesday, having wrapped up its worst first-half performance since the 1970s, ahead of a vote over U.S. President Donald Trump's landmark tax and spending legislation.

The measure, Trump's top legislative goal, passed in a 51-50 vote, after Vice President JD Vance cast the tiebreaking vote. The megabill would extend the 2017 tax cuts that were Trump's main legislative achievement during his first term as president,