Gold strives to recover from two-week low

Gold prices were little changed on Tuesday as the precious metal strives to rebound from a two-week trough hit this week. 

Dollar dipped yesterday to three-week lows against a basket of major rivals, helping gold regain its footing and recoup losses yesterday. 

Gold is still suffering from weak haven demand even as Asian stocks fall en masse with almost no reaction from gold, with yesterday's tentative recovery a mere reaction to dollar's dip.

The major factor holding gold prices back is expectations of a Federal Reserve rate hike this week, which would hurt gold and other precious metals for their unyielding nature. 

Gold prices last traded at $1,316.31 an ounce, almost at the opening of $1,316.59, with a session-low at $1,315.58, and a high at $1,318.28.