WASHINGTON (dpa-AFX) - Gold prices were flat to slightly lower on Tuesday, U.S. Treasury yields advanced and the dollar saw broad gains amid expectations that the Federal Reserve is likely to tighten monetary policy at an accelerated pace to tackle price pressures.
Spot gold was little changed at $1,819.95 per ounce while U.S. gold futures were marginally lower at $1,820.85.
Investors await U.S. inflation data due on Thursday that could help determine the pace of the Fed's policy tightening.
Economists expect consumer inflation to rise to 7.3 percent year-on-year in January from 7 percent in December. That would be the highest reading seen since 1982.
The odds of a 50 basis point increase in the interest rate at the March FOMC meeting rose to 30 percent, according to the CME FedWatch Tool.
Elsewhere, Christine Lagarde, the European Central Bank president, played down the chances of a 'measurable tightening' of monetary policy to fight inflation.
There is no need for big monetary policy tightening in the euro zone as inflation is set to fall back and could stabilize around 2 percent, she said on Monday.
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