Gold Inches Higher As Dollar And Yields Dip

Gold inched higher on Tuesday and the dollar weakened following less-hawkish commentary from Fed policymakers at the start of holiday-shortened week.

Spot gold rose half a percent to $1,746.89 per ounce, while U.S. gold futures were up 0.6 percent at $1,749.55.

The dollar and U.S. bond yields dipped amid another quiet day on the U.S. economic front and ahead of the upcoming Thanksgiving Day holiday.

U.S. Treasury yields eased across most maturities as investors parsed mixed comments from Federal Reserve officials.

Federal Reserve Bank of San Francisco President Mary Daly said on Monday it is premature and nothing is off the table regarding the size of the rate hike at the next policy meeting in December.

Cleveland Fed Bank President Loretta Mester said he doesn't see any pause in the rate hike cycle yet.

Atlanta Federal Reserve President Raphael Bostic said he favors slowing the pace of interest rate increases, with no more than 1 percentage point more of hikes.

Looking ahead, reports on durable goods orders and new home sales are likely to attract attention on Wednesday along with the minutes of the latest Federal Reserve meeting.

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