Institutions: Gold stops falling and rebounds, but pressure remains; market awaits US economic data for guidance.

BlockBeats news, September 29 - Spot gold edged up on Tuesday but remained trading below $4,200 per ounce, after rising U.S. Treasury yields to multi-decade highs and climbing crude oil triggered a selloff in the precious metals market on Monday.

IG analysts said: "With the market expecting the Federal Reserve to keep interest rates high for longer, dampening investor interest in non-yielding assets, gold has only rebounded slightly and remains near its lowest level since early August." According to the CME FedWatch tool, traders currently estimate a 72.5% probability that the Federal Reserve will raise rates in October. The market is now focused on a series of U.S. economic data, including the consumer confidence index and job openings data to be released later on Tuesday. (Jinshi)