Asian shares edged cautiously higher on Tuesday, tracking a rebound in Wall Street overnight despite disappointing economic data from China and the US fuelling recessionary fears.

The past few weeks have been rough for gold. After securing a solid weekly close below the $1825 level back in late June, bears were injected with fresh inspiration as various fundamental forces fuelled the downside momentum

Things are looking gloomy in the world. The prices of goods and services are skyrocketing at a pace not seen in several decades, making it more expensive to go about our daily lives. 

After the explosive price action last week, gold kicked off Monday on a calmer note.