Gold Prices Hover Near Seven-Week Low Amid Fed Rate Fears

Gold prices have stabilized near their seven-week low of $4,124.57 per ounce in spot trading on Tuesday. The metal has been impacted by investor concerns that the Federal Reserve will maintain elevated interest rates for an extended period. This sentiment is also influenced by anticipation of upcoming US economic data releases.

The recent price action follows a previous session where gold touched its lowest level since August 5. US gold futures have declined by 0.3 percent, settling at $4,156.70.