Gold Tumbles Below $4,300 as China Retail Sales Disappoint

China's retail sales came in below expectations for August, according to the latest numbers. The actual year-over-year (YoY) figure of 0.4% fell short of the predicted 0.8%. This news weighed on gold prices during the Asian session on Tuesday.

The precious metal struggled to stay above $4,300, hovering near a one-month low reached just the previous day.

Fed rate-hike expectations and inflation concerns continue to support elevated US bond yields, which in turn underpin the US dollar and put downward pressure on non-yielding bullion like gold.

Bears may be waiting for the outcome of the two-day FOMC meeting on Wednesday before placing fresh bets.