FX.co ★ Gold Steadies As Dollar Takes Breather

Gold eked out modest gains on Tuesday after hitting a near one-month low in the previous session.

Spot gold edged up 0.2 percent to $1,739.13 per ounce, while U.S. gold futures were up 0.2 percent at $1,751.75.

A slight pullback in the dollar helped lift prices, though worries lingered over the pace of rate hikes by the U.S. Federal Reserve.

The dollar fell slightly against its rivals after having hit a more than one-month high overnight, aided by fears of recession and recent hawkish comments from Fed officials.

Investors await a gathering of central bankers later this week in Jackson Hole, Wyoming, where Fed chairman Jerome Powell will deliver a speech.

In economic releases, survey results showed earlier today that Europe's two largest economies both probably contracted in August.

The composite purchasing managers indexes for Germany and France hit a 26-month low and 18-month low, respectively.

U.S. new home sales for July and Eurozone consumer sentiment index for August are scheduled for release in the New York session.