Gold prices extended overnight losses during Europe's session on Tuesday to touch a one-week low, as market players awaited comments from a barrage of Federal Reserve officials, including the Fed chair, later in the session for further clues on the path of future rate hikes.

Gold for December delivery on the Comex division of the New York Mercantile Exchange fell to a daily low of $1,326.00 a troy ounce, a level not seen since September 21. It was last at $1,326.35 by 3:30AM ET (07:30GMT).

Fed Vice Chairman Stanley Fischer said Tuesday evening that the U.S. central bank should avoid raising interest rates too much. He added that rates should rise but that "I don't know when" that should happen.

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