Business

  Gold prices stabilized on Tuesday, following some gains in the previous session, as weak U.S. service sector data put pressure on the dollar and raised concerns about the cooling of the world's largest economy. After reaching a two-month low, the price of gold rebounded as the data revealed that the U.S. service sector experienced minimal growth in May, signaling a slowdown after a period of strong expansion and a sluggish labor market.   The lackluster U.S. service sector data led to a decline in the value of the dollar, which had recently reached its highest point in 11 weeks. This decline benefited various metal markets, with safe haven assets like gold being particularly favored.   At 20:44 ET (00:44 GMT), spot gold remained unchanged at $1,961.16 per ounce, while gold futures rose by 0.2% to $1,977.45 per ounce. Both instruments saw an increase of over 0.6% on Monday following the release of the U.S. data.   However, despite these recent gains, gol...