NEW YORK: Gold prices remained largely steady in global markets on Tuesday, but the precious metal stayed near a more than seven-week low amid concerns that the US Federal Reserve may keep interest rates elevated for longer. Investors are closely watching key US economic data due later this week for fresh indications about the direction of monetary policy.
According to market data, spot gold was little changed at $4,124.57 per ounce. In the previous trading session, gold had fallen to its lowest level since August 5.
Meanwhile, US gold futures declined 0.3% to $4,156.70 per ounce.
Other precious metals also came under pressure. Spot silver fell 0.6% to $60.62 per ounce, platinum declined 1% to $1,699.86, while palladium slipped 0.5% to $1,209.08 per ounce.
