WASHINGTON (dpa-AFX) - Gold prices traded lower on Tuesday, extending losses for a fourth straight session amid diminished expectations of a U.S. interest rate cut next month.
Spot gold dipped 0.3 percent to $4,034.10 an ounce while U.S. gold futures were down 1 percent at $4,033.80.
The downside remained limited as the dollar weakened on dovish Fed comments.
Citing a weakening labor market and overriding concerns about inflation, Federal Reserve Governor Christopher Waller has called for another quarter-point rate cut at the upcoming policy meeting on December 9-10.
'I am not worried about inflation accelerating or inflation expectations rising significantly,' Waller said in remarks to the Society of Professional Economists in London.
In economic releases, reports on U.S. factory orders, the U.S. trade deficit and ADP employment are due to be released in the coming days along with the monthly jobs report for September.
The readings as well as speeches from Fed officials could impact the outlook for interest rates ahead of the Federal Reserve's next monetary policy meeting in December.
CME Group's FedWatch Tool currently indicates a 55.1 percent chance the Fed will leave rates unchanged next month and a 44.9 percent chance of another quarter point rate cut.
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