On Tuesday, Australian stocks closed lower. They are caused by losses in gold and mineral values

The benchmark rose 0.1% on Monday, while the S&P/ASX 200 fell 0.5% to 7038.2 points. Australian traders are waiting for inflation and retail sales data for the month of August, which will provide an overview of how the economy has adjusted to the Reserve Bank of Australia's rate hikes. Tim Waterer, chief market analyst at KCM Trade, said that the Consumer Price Index (CPI) for the month of August is likely to show signs of increasing inflationary pressures from high energy prices

Gold prices are hampered by the continued strength of the dollar and the continued rise in U.S. Treasury yields, according to Waterer. Miners lost 1.8%, led by a drop in iron ore futures due to concerns about demand ahead of the official vacation of the main steel producer in China starting September