WASHINGTON (dpa-AFX) - Gold prices steadied on Monday after two consecutive sessions of losses. Spot gold inched up by 0.1 percent to $4,070.62 an ounce while U.S. gold futures were down 0.3 percent at $4,103.
The dollar hovered near six-month highs as investors await more U.S. economic data, including reports on retail sales, producer price index and weekly jobless claims for clearer signals on the Federal Reserve's policy outlook.
The odds of another Federal Reserve rate cut in December surged to 70 percent from 44.4 percent earlier after New York Fed President John Williams hinted at potential rate cuts, calling current policy 'modestly restrictive.'
On the other hand, Boston Fed chief Susan Collins argued against the U.S. central bank cutting its interest rate target next month, citing ongoing risks to both inflation and job mandates.
Investors also await cues from the Thanksgiving holiday shopping season and earnings results from retailers, including Kohl's, Dick's Sporting Goods, Best Buy, Petco and Urban Outfitters to get more clarity on how American consumer are faring.
Ukraine peace talks were also in focus, with the Kremlin saying it had not received any official information about the outcome of Ukraine peace talks held on Sunday in Geneva.
Kremlin spokesman Dmitry Peskov said that the Kremlin would not be discussing details of any draft agreement via the media.
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