WASHINGTON (dpa-AFX) - Gold prices were subdued on Tuesday and the dollar eased from near seven-week highs against major currencies as investors awaited greater clarity on how Israel will retaliate against Iran.
Spot gold was marginally lower at $2,641.78 per ounce, while U.S. gold futures were down 0.2 percent at $2,660.90.
Israel is unlikely to hit Iranian nuclear sites in response to Tehran's ballistic missile attack and instead if may focus on military bases, or intelligence or leadership targets, the New York Times (NYT) has reported.
Benchmark U.S. Treasury yields dipped slightly but held above 4 percent as traders trimmed their bets on Federal Reserve rate cuts.
Federal Reserve Bank of St. Louis President Alberto Musalem said on Monday he supports additional interest-rate cuts, adding cutting rates at a gradual pace seems to make sense.
In economic news, key releases for markets this week include the FOMC September meeting minutes, key readings on U.S. consumer price and producer price inflation and U.K. GDP growth.
After last week's upbeat jobs data, traders now expect only a quarter-point cut in interest rates at the Federal Reserve's next policy announcement on Nov. 7, with a small chance that the policy rate stays unchanged.
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