Gold firmed after a four-day decline on Tuesday but languished near a four-week low as investors dumped the metal on expectations the Federal Reserve would hike US rates this year. The Fed last week firmly put a December rate rise in play, hurting earlier views that the increase in nearly a decade could be pushed to next year on global growth concerns. Spot gold ticked up 0.3 percent to $1,137.05 an ounce by 0647 GMT, but not too far from a four-week low of $1,132.35 reached in the previous session. The metal slid for a fourth consecutive session on Monday.
"We remain negative on the overall precious group over the short-term ... The combination of a stronger dollar, soaring US equity markets, ETF liquidation, a jittery Fed, along with a worsening technical picture will all combine to keep the complex on the defensive for a little while longer," said INTL FCStone analyst Edward Meir.