WASHINGTON (dpa-AFX) - Gold prices traded sharply lower on Tuesday despite Fed rate bets dragging the dollar index to a nearly two-month low
Spot gold fell 0.9 percent to $2,329.98 per ounce while U.S. gold futures were down 0.8 percent at $2,349.70.
After the release of weak U.S. manufacturing and construction spending data, investors now await cues from central bank meetings and key U.S. economic data due later in the week.
The European Central Bank and the Bank of Canada both are expected to cut rates this week ahead of next week's FOMC meeting, which concludes on June 12.
Traders also await the Job Openings and Labour Turnover Survey (JOLTS) due to be published later today as well as the non-farm payroll figures for May, out on Friday for indications of economic strain.
Currently, a first quarter-point rate increase by the Fed is fully priced by the November meeting.
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