Gold Prices Recover, Await Key Economic Data

Gold prices rebounded from a seven-week low on Tuesday as investors awaited key economic data. The SPDR Gold Shares ETF (GLD) rose about 0.6% to $4,138.80 an ounce around 4 p.m. ET.

The precious metal's recovery was limited by rising expectations of additional Federal Reserve rate hikes. This has been a major concern for gold investors in recent weeks, as higher interest rates can decrease the demand for non-yielding assets like gold.

Investors are looking ahead to inflation and jobs data, which is expected to provide insight into the state of the economy. The upcoming releases could influence the Federal Reserve's decision on future rate hikes and impact the price of gold.