Gold prices rose 1% on Tuesday after touching their lowest level in more than seven weeks in the previous session, as investors awaited U.S. economic data that could provide further indications about the monetary policy path of the Federal Reserve, the U.S. central bank.
Gold recovers from seven-week low
Spot gold rose 1% to 4155.73 dollars an ounce, while U.S. gold futures climbed 0.5% to 4189.60 dollars.
Gold had fallen about 4% on Monday to a low of 4110.55 dollars an ounce, as rising crude oil prices strengthened expectations that the Federal Reserve would raise interest rates.
Other precious metals decline
Spot silver fell 0.2% to 60.98 dollars, platinum declined 1.7% to 1688.60 dollars, while palladium lost 0.4% to 1210.20 dollars.
U.S. data awaited
Investors are awaiting the ADP employment report, due to be released on Wednesday, personal consumption expenditures data and comments from several Federal Reserve policymakers.
