Odaily News Gold prices fell back from a six-month high on Tuesday, with spot gold losing $4200 per ounce during the day, partly due to rising U.S. Treasury yields and profit-taking weighing on prices, while investors awaited U.S. economic data to gauge the Fed's policy path. The benchmark 10-year U.S. Treasury yield remained near a two-week high, diminishing the appeal of non-yielding gold. KCM Trade Chief Market Analyst Tim Water noted, “Gold performed weakly today, but the fundamentals remain unchanged— including the expected Fed rate cuts, which should support gold prices from a yield perspective.” Market sentiment is cautious, with expectations that the core PCE price index, the inflation gauge favored by the Fed, will remain mild when released on Friday. Additionally, key U.S. data this week includes the November ADP employment report on Wednesday. (Jin10)
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