India, Sept. 29 -- Gold prices moved slightly higher on Tuesday, but remained close to a seven-week low. Gold had suffered a sharp fall in the previous session, dropping about 4%, as investors reacted to higher oil prices and rising US Treasury yields.

Spot gold rose 0.4% to $4,131.10 an ounce at 00:13 ET (04:13 GMT) on Tuesday. However, gold futures moved in the opposite direction, falling 0.2% to $4,162.32 an ounce, according to Yahoo Finance. The main pressure on gold is coming from higher energy prices and rising Treasury yields. Higher oil prices are raising concerns about inflation, while higher bond yields are increasing expectations that the US Federal Reserve could raise interest rates again.

Oil prices continued to rise as the...