Gold Prices Steady Amid US-Iran Talks and Jobs Data

Gold prices remained steady on Tuesday as investors juggled conflicting signals from US-Iran talks and waited for key jobs data to inform their views on Federal Reserve interest rates.

The conflict in the Middle East has driven up energy costs and stoked inflation fears, potentially prompting central banks to increase interest rates. However, higher rates tend to weigh on gold prices since the metal yields no interest.

Traders currently price in a 65% chance that the Fed will raise rates in September, following the divided Fed's decision to leave rates unchanged at its last policy meeting. Federal Reserve Bank of New York President John Williams stated he remains optimistic about easing inflation pressures.