Gold eased in early trading on Tuesday, after it touched a six-week high in the previous session.<\/p>\n
Bloomberg Creative | Bloomberg Creative Photos | Getty Images<\/p>\n
Gold\u00a0eased in early trading Tuesday, after it touched a six-week high in the previous session, as rising U.S. Treasury yields and profit-taking weighed on sentiment ahead of U.S. economic data likely to guide the Federal Reserve<\/a>‘s policy path.<\/p>\n Spot\u00a0gold<\/a>\u00a0fell 0.4% to $4,215.48 per ounce, as of 0228 GMT, after hitting its highest level since October 21 on Monday.<\/p>\n U.S.\u00a0gold\u00a0futures<\/a>\u00a0for December delivery were down 0.6% at $4,247.10 per ounce.<\/p>\n Benchmark 10-year U.S. Treasury yields<\/a>\u00a0hovered close to a two-week high touched in the previous session, reducing the appeal of non-yielding bullion.\u00a0<\/p>\n Markets are acting cautiously because Fed Chair Jerome Powell is not expected to sound as dovish as some of his Fed colleagues, and core Personal Consumption Expenditures (PCE) price index – the Fed’s preferred measure of inflation – on Friday is expected to remain fairly benign, Waterer said.<\/p>\n “Gold\u00a0is having a soft performance today, but the fundamental picture has not changed – a picture which includes anticipated U.S. rate cuts, which should be supportive of\u00a0gold\u00a0from a yield point of view,” said KCM Trade Chief Market Analyst Tim Waterer.<\/p>\n Powell, in remarks prepared for an address at Stanford University late Monday, did not\u00a0comment\u00a0on the economy or monetary policy.<\/p>\n Investors are watching key U.S. data this week, including Wednesday’s November ADP employment report and Friday’s delayed September Personal Consumption Expenditures Index.<\/p>\n Traders are pricing in an 88% chance of a Fed rate cut in December, according to CME’s FedWatch tool.\u00a0<\/p>\n White House adviser Kevin Hassett said he is willing to serve as\u00a0Fed chair, as Treasury Secretary Scott Bessent flagged a possible pre-Christmas\u00a0nomination. Hassett, like President Donald Trump, wants lower rates.<\/p>\n Lower interest rates typically benefit non-yielding\u00a0gold.<\/p>\n SPDR\u00a0Gold\u00a0Trust<\/a>, the world’s largest\u00a0gold-backed exchange-traded fund, said its\u00a0holdings\u00a0rose 0.44% to 1,050.01 metric tons on Monday from 1,045.43 tons on Friday.<\/p>\n Silver<\/a>\u00a0fell 1.9% to $56.88 per ounce, platinum<\/a>\u00a0rose 0.1% to $1,659.23, while palladium<\/a>\u00a0gained 0.2% to $1,427.62.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold eased in early trading on Tuesday, after it touched a six-week high in the previous session. Bloomberg…\n","protected":false},"author":2,"featured_media":163532,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[941,114,357,54,10913,55842,22814,85,46,4487,98023,98024,98025,55843,55844,55841,77035,3309],"class_list":["post-163531","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-breaking-news-markets","tag-business","tag-business-news","tag-donald-trump","tag-federal-reserve-system","tag-gold-us-dollar-spot","tag-gold-comex-dec25","tag-il","tag-israel","tag-jerome-powell","tag-metal-commodities","tag-palladium-us-dollar-spot","tag-platinum-us-dollar-spot","tag-precious-metal-markets","tag-precious-metals-industry","tag-silver-us-dollar-spot","tag-spdr-gold-shares","tag-u-s-10-year-treasury"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/163531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=163531"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/163531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/163532"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=163531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=163531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=163531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}