FX.co ★ Gold Holds Steady Ahead Of US CPI Data

Gold prices held steady on Tuesday, U.S. Treasury yields fell slightly and the dollar was largely unchanged as investors awaited key U.S. inflation data that could influence the Fed's rate trajectory.

Spot gold was marginally higher at $1,947.19 per ounce, while U.S. gold futures were little changed at $1,950.85.

U.S. CPI data is expected to show inflation easing to a year-on-year rate of 3.3 percent in October from 3.7 percent in the prior month. Core prices are expected to remain unchanged from the previous month.

U.S. producer price inflation data and a string of speeches from Fed officials due this week may also shed more light into the Fed's next interest-rate decision.

Despite recent hawkish comments from Federal Reserve officials, investors are pinning hopes that the U.S. central bank is done raising rates.

Meanwhile, the United States faces another potential government shutdown if Congress cannot pass funding legislation by November 17.