An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023.
Chalinee Thirasupa | Bloomberg | Getty Images
Gold prices edged higher on Tuesday as Treasury yields eased, with market participants awaiting U.S. data and comments from Federal Reserve officials for more clarity on the central bank’s roadmap for interest rate cuts.
Spot gold was up 0.2% at $2,323.97 per ounce, as of 0326 GMT. U.S. gold futures rose 0.4% to $2,339.00.
Benchmark 10-year Treasury yields edged lower, making gold more attractive, while the dollar held steady.
“The fact that gold’s direction has alternated over the past four days without really going anywhere of significance tells me the market is waiting for something to wake it from its lull,” said City Index senior analyst Matt Simpson.
“Should U.S. retail sales sink, perhaps gold can make a break of $2,350.”
The U.S. retail…
