Gold prices held steady on Tuesday near two-week highs hit in the previous session, as the dollar hovered near multi-month lows on fading prospects for further U.S. rate hikes this year.

Fundamentals

* Spot gold was up 0.1 percent at $1,234.48 per ounce at 0033 GMT, after hitting its highest since July 3 at $1,235.94 in the previous session. 

* U.S. gold futures for August delivery were mostly unchanged at $1,233.80 per ounce.

* The U.S. dollar was near a 10-month low against a basket of major currencies on Tuesday, pressured by uncertainty over the pace of the Federal Reserve's policy tightening.

* South Korea on Monday proposed military talks with North Korea, the first formal overture to Pyongyang by the government of President Moon Jae-in, to discuss ways to avoid hostile acts near the heavily militarised border.

* London's economy is wobbling from the early effects of Brexit judging from the capital's faltering housing market, fewer European Union citizens seeking work and weaker job creation, according to a report from the Centre for London think tank.

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