Forex
Gold Tries to Recover Amid Stronger US Dollar
Gold prices attempted to recover from an eight-week low on Tuesday as buying picked up from depressed levels. However, gains were limited by a stronger US dollar and rising Treasury yields.
The US Dollar Index rose 0.3% to 101.45, its highest level in two months, making gold less attractive to buyers holding other currencies.
Federal Reserve officials continued to deliver hawkish remarks, strengthening expectations for another US interest rate hike in October. Markets are awaiting key US labor market reports this week to reassess those expectations.