WASHINGTON (dpa-AFX) - Gold prices ticked higher on Tuesday, after having fallen nearly 1 percent in the previous session amid dollar strength.
Spot gold edged up by 0.2 percent to $2,44.90 in European trade while U.S. gold futures were up 0.4 percent at $2,668.69.
Bullion found some support after a top Federal Reserve official said that he is leaning toward supporting an interest rate cut when the Fed meets later this month.
Speaking at George Washington University, Christopher Waller, a key member of the Fed's Board of Governors, said that the central bank will likely reduce its key rate at the December meeting, but much depends on the incoming data.
Concerns about a possible government collapse in France also boosted safe-haven demand for the precious metal.
After France's Prime Minister Michel Barnier invoked a rarely used constitutional mechanism to push through the contentious 2025 budget without parliamentary approval, Marine Le Pen's far-right National Rally and the leftist New Popular Front both have filed no-confidence motions, setting the stage for a vote as early as Wednesday that could see Barnier's ouster.
In economic releases, Investors await a barrage of U.S. economic data and remarks from Federal Reserve speakers this week that will help shape investors' expectations for future rate cuts.
Friday's payrolls report is expected to show U.S. hiring jumped in November after a dismal report the previous month, impacted by hurricanes and worker strikes.
Fed Chair Jerome Powell participates in a moderated discussion on Wednesday, with investors looking for additional clues on the inflation and rate outlook.
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