Gold prices were moving lower on Tuesday despite retreating U.S. bond yields and weakness in the dollar index.
Spot gold slipped 0.3 percent to $1,733.19 per ounce, while U.S. gold futures were down 0.3 percent at $1,745.10.
Rate hike worries persist due to recent hawkish comments by Federal Reserve and ECB officials.
Minneapolis Fed President Neel Kashkari on Monday said the stock-market sell-off following Fed Chair Jerome Powell's hawkish Jackson Hole speech showed "people now understand the seriousness of the Fed's commitment to getting inflation back down to 2 percent."
Separately, ECB Chief Economist Philip Lane said in a speech that the upcoming September monetary policy meeting will be the "start of a new phase" for the central bank.
Traders are now pricing in more than a two-thirds chance of a 75-basis-point move at the European Central Bank's September 8 policy meeting.
