Gold prices stabilized on Tuesday after falling earlier in the session to their lowest level in nearly two weeks, as the conflict between the United States and Iran heightened inflation concerns.
By 10:11 Moscow time, gold futures for August (Comex) had risen by 0.60% to $4,030.50 an ounce.
Meanwhile, spot gold futures rose 0.53% to $4,023.73 an ounce, after having fallen earlier in the session to $3,993.83 an ounce.
Contracts lost about three percent yesterday, the biggest daily percentage drop in more than a month.
Investors are closely watching the U.S. Consumer Price Index data for June 2026, due later today, for fresh clues about inflation and the Federal Reserve's (the U.S. central bank) path on interest rates, with attention also focused on the Producer Price Index data and Federal Reserve Chairman Kevin Warsh's first semiannual testimony before Congress this week.
Traders have increased their bets on a US interest rate hike in September 2026, with the CME FedWatch tool showing expectations of around 78% for a hike, up from 57% a week earlier.
