NEW YORK: Gold prices edged lower on Tuesday, while investors awaited key US inflation data and remarks from the Federal Reserve chair due later this week to gauge the outlook on monetary policy.
Spot gold fell 0.3 per cent to US$4,157.90 per ounce by 2.15pm EDT (1815 GMT). US gold futures for December settled down 0.3 per cent at US$4,177.30 per ounce.
"We have some inflation data that's coming out later this week. So market is kind of waiting to see how that plays out," said Bob Haberkorn, senior market strategist at StoneX.
He noted the Fed chairman will deliver his last speech before the upcoming rate meeting on Thursday, and anticipates a quieter session ahead of Wednesday's and Thursday's events.
