Gold holds steady ahead of US inflation data, Warsh remarks
GLD•Spot gold slipped 0.1% to $4,164.70 an ounce as investors awaited US inflation data and remarks from Fed Chair Kevin Warsh. US gold futures also fell 0.1%, to $4,188.40 an ounce.
1. Gold little changed
Spot gold was down 0.1% at $4,164.70 an ounce on Tuesday, while US gold futures for December delivery fell 0.1% to $4,188.40. Investors were waiting for US Consumer Price Index data on Wednesday, Producer Price Index figures on Thursday and remarks from Fed Chair Kevin Warsh.
2. Rates and other metals
The dollar and 10-year Treasury yield slipped from their highs. Traders saw a 19% chance of a Fed rate hike this month and an 88% chance of an increase in December. Silver fell 1.5%, platinum edged down 0.8% and palladium dropped 1.3%.
