Gold prices declined by more than 1% on Tuesday as investors adopted a cautious stance ahead of the Federal Reserve's policy decision and Chair Kevin Warsh's remarks for fresh guidance on the future path of U.S. interest rates. Market participants also remained on the sidelines before the release of key U.S. economic indicators, including second-quarter GDP and the Fed's preferred inflation measure, both scheduled later this week. A firm U.S. dollar, hovering near a one-month high, further pressured bullion by making gold more expensive for overseas buyers. Meanwhile, easing geopolitical tensions in the Middle East, following a continued pause in hostilities between the U.S. and Iran, also reduced safe-haven demand. On the domestic front, MCX August gold futures traded nearly 1% lower at around ₹1,41,954 per 10 grams.
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