Gold rebounds after falling to a more than seven-week low

Gold prices recovered on Tuesday after the precious metal fell to its lowest level since August 5 in the previous session, as investors awaited fresh U.S. economic data for clues on the Federal Reserve’s interest-rate path.

Spot gold rose 1.1% to around $4,158 an ounce, while U.S. gold futures gained 0.5% to approximately $4,190.

Gold remains under pressure from elevated bond yields and expectations that interest rates could remain high for longer. Markets are now watching upcoming U.S. inflation and employment data for signals on future monetary policy.