Gold prices edged lower on Tuesday as the U.S. dollar firmed, while investors hunkered down for Federal Reserve Chair Jerome Powell's speech at Jackson Hole later this week.

Gold hovered around $3,380 early Tuesday, with investors holding off on major moves as they await the US Federal Reserve (Fed) Minutes and the Jackson Hole Economic Symposium later this week. Remarks from Fed Chair Jerome Powell at the Jackson Hole symposium,

With gold prices high and a new Fed meeting slated for this week, here's what investors should be considering now.