WASHINGTON (dpa-AFX) - Gold prices ended lower on Tuesday as traders resorted to profit-taking from the gains made earlier in today's session as well as the previous day's session even as the possibility of ending the U.S. government shutdown increases.
Front Month Comex Gold for November delivery lost by $5.00 (or 0.12%) to $4,106.80 per troy ounce.
Front Month Comex Silver for November delivery gained by 44.10 cents (or 0.88%) to $50.618 per troy ounce.
The U.S. government shutdown entered day number 42.
Yesterday the Senate approved a short-term funding bill to run the government. Though this progress instilled confidence among investors, they were cautious in making further big moves.
The focus is now on whether the House of Representatives will approve the Senate bill. The bill will be considered today in the House where the Republicans are in majority indicating that the approval should be a smooth sailing.
In addition, today, the U.S. Treasury markets closed for Veterans Day and liquidity remained slim.
The non-availability of key official economic data has compelled markets to rely on private releases.
Today, the NFIB Small Business Optimism Index (a composite of ten seasonally adjusted components) in the U.S. fell to 98.2 in October 2025, the lowest in six months, from 98.8 in September. Small business owners reported lower sales and reduced profits while many firms are facing labor shortages.
Last week, the Challenger job cut data showed that US-based employers announced 153,074 job cuts in October, the highest total for the month since 2003, compared with 54,064 in September.
In addition, a report from the University of Michigan showed that the consumer sentiment index slid to 50.3 (three-and-a-half-year low) in November after falling to 53.6 in October.
Concerns about high valuations in the technology sector, especially in AI and infrastructure-tied stocks are still lingering among traders.
If the government reopens as expected, it will render a precise picture of the prevailing economic scenario and indicate which way the Fed's interest rate path will move.
In the ongoing Russia-Ukraine war, Ukraine is battling hard to prevent Russian forces from taking over the city of Pokrovsk in the eastern Donetsk region.
A 'Sea Oil Terminal' in Russian-occupied Crimea and a warehouse in occupied Donetsk were targeted in separate attacks on Monday night by Ukraine causing explosions and a large fire.
The ceasefire deal, brokered by U.S. President Donald Trump to end the Israel-Palestinian Hamas militants is holding on so far without violations from both sides.
The U.S. Supreme Court is hearing a case against Trump's tariffs.
On the first day of adjudication, the apex court had expressed doubts about the legal validity of president's powers to impose tariffs under International Emergency Economic Powers Act.
Responding to that, Trump announced on Truth Social that revoking tariffs could 'unwind' more than $3 trillion and devastatingly damage the economy of the U.S. The uncertainty is likely to
Non-yielding commodities like gold usually perform well in a low-interest regime as well as during economic uncertainties.
According to CME Group's FedWatch Tool, investors are betting on 67.6% chances of a 25-basis-point interest rate cut in the upcoming December 9-10 Federal Reserve's meeting.
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