As investors sought greater clarity on the U.S. Federal Reserve's monetary policy, the price of gold rose on Tuesday after two losing sessions.

Spot gold was up 0.3% to $2,001.09 per ounce at 3:10am GMT. U.S. gold futures rose 0.3% to $2,012.40. The price of gold fell to its lowest level in two weeks on Monday after manufacturing activity in New York State increased for the first time in five months, and the confidence of single-family home builders in the United States improved for the fourth month in a row in April. Gold is seen as a safeguard against inflation and economic uncertainty, but rising interest rates are reducing the attractiveness of this yield-free metal.

Cash fell 0.2% to $25.06 per ounce, platinum rose 0.2% to $1,050.24, and palladium gained 0.6% to $1,569.67.