Gold prices were stable in trading on Tuesday, but are still heading towards their biggest monthly decline since October 2008.
By 09:55 Moscow time, gold futures for August (Comex) had risen slightly by 0.12% to $4043.70 an ounce.
Meanwhile, spot gold contracts settled at $4,030.49 an ounce, a slight increase of 0.36% from the previous closing price, recording a loss of 12.7% since the beginning of the month, which would be the fourth consecutive monthly decline.
Gold is heading towards record lows as the war with Iran has led to a sharp rise in energy prices, raising concerns about inflation and expectations of higher interest rates.
