The benchmark S&P/ASX200 index was up 15.2 points, or 0.18 per cent, to 8,498.0, while the broader All Ordinaries had gained 17.4 points, or 0.2 per cent, to 8,765.6.
IG market analyst Tony Sycamore said fears of a repeat of last Monday's bloodbath had abated after US equity futures rallied upon their reopening, along with the realisation Australia's steel and aluminium exports to the US were modest.
China, Australia's largest trading partner, was also not among the US's top steel suppliers, Mr Sycamore noted.
Also on Tuesday, the Westpac-Melbourne Institute consumer confidence survey found sentiment was basically unchanged last month, with a very small 0.1 per cent gain.
Westpac economist Matthew Hassan said that consumers' mood had improved over the second half of 2024, but that recovery had stalled in the last three months amid continued pressure on family finances and a more unsettled global backdrop.
"Latest reads show a 'cautiously pessimistic' consumer mood," he said.
Ten of the ASX's 11 sectors were higher at midday, all except health care.Â
That sector was down 1.5 per cent as CSL fell 2.4 per cent to $263.74 after the blood products giant delivered disappointing half-year earnings.
"CSL's 1H25 result missed market expectations at the revenue, EBIT and NPATA lines," said RBC Capital Markets' Craig Wong-Pan, using acronyms to refer to earnings and profit.
In the heavyweight mining sector, goldminers were shining as the precious metal soared to $US2,938 - its first time above $US2,900.
Northern Star was up 5.5 per cent, Evolution had climbed 6.8 per cent on a broker upgrade and Newmont had advanced 3.8 per cent.
Elsewhere in the sector, BHP was down 0.6 per cent while Fortescue and Rio Tinto had both dipped 0.8 per cent.
The big four banks were mixed, with Westpac up 0.6 per cent and ANZ adding 0.2 per cent, while NAB was flat and CBA had dipped 0.3 per cent.
Nine Entertainment had soared 11.7 per cent to a six-month high of $1.435 after Capital Brief reported that billionaire Bruce Gordon was looking to strengthen his grip on the company.
The Australian dollar was buying 62.74 US cents, from 62.73 US cents at 5pm on Monday.
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