03.08.202110:56:00UTC+00Gold Prices Ease In Cautious Trade

Gold prices eased on Tuesday as the dollar held steady amid growing concerns over Delta variant of coronavirus cases.

Spot gold slipped 0.2 percent to $1,810.08 per ounce, while U.S. gold futures were down half a percent at $1,813 per ounce.

The dollar traded in a tight range as the world continues to combat the biggest health crisis.

The spread of the Delta variant from the mainland's coast to China's inland cities prompted authorities to implement strict counter epidemic measures.

The seven-day average of daily coronavirus infections in the United States has quadrupled from the levels recorded a month ago, according to data analyzed by the New York Times.

Meanwhile, a top Fed official on Monday said the U.S. central bank could start to reduce its support for the economy by October if the next two monthly jobs reports each show employment rising by 800,000 to 1 million.

"We should go early and go fast, in order to make sure we're in position to raise rates in 2022, if we have to," Federal Reserve Governor Christopher Waller said in an interview on CNBC.