Tuesday saw a continuation of gold price stability above significant support levels, but the price of the yellow metal steadied under pressure as markets expected any monetary policy hints from the Federal Reserve this week.

Spot gold muted at $1,920.91 per ounce, meanwhile gold futures traded flat at $1,928.55 per ounce.

After the Fed's favored inflation indicator showed lower-than-expected readings for May, gold prices have experienced some reprieve over the last two sessions. However, a rate increase by the central bank is still anticipated for July.

Significantly weaker-than-anticipated U.S. manufacturing data further heightened concerns about slowing growth and encouraged some gold flows.

This week's payrolls statistics and Fed minutes cause gold to move somewhat.

Prior to additional clues on the Fed this week, starting with the minutes of the central bank's June meeting, which are due on Wednesday, markets remained mostly leery of gold.

Rising interest rates will not be for the best benefit of gold since they make holding the yellow metal more expensive.