FX.co ★ Gold Inches Lower As Rate Hike Bets Weigh

Gold prices were moving lower on Tuesday despite retreating U.S. bond yields and weakness in the dollar index.

Spot gold slipped 0.3 percent to $1,733.19 per ounce, while U.S. gold futures were down 0.3 percent at $1,745.10.

Rate hike worries persist due to recent hawkish comments by Federal Reserve and ECB officials.

Minneapolis Fed President Neel Kashkari on Monday said the stock-market sell-off following Fed Chair Jerome Powell's hawkish Jackson Hole speech showed "people now understand the seriousness of the Fed's commitment to getting inflation back down to 2 percent."

Separately, ECB Chief Economist Philip Lane said in a speech that the upcoming September monetary policy meeting will be the "start of a new phase" for the central bank.

Traders are now pricing in more than a two-thirds chance of a 75-basis-point move at the European Central Bank's September 8 policy meeting.